Tag Archives: prisoners’ dilemma

Starbucks marketing escapes the prisoner’s dilemma

“In the first 30 years of our company, we spent more money on training than marketing”   These are the words of Howard Schultz, Starbucks chief executive. Starbucks has grown from a few hundred stores in the early 1980s to … Continue reading

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Five ways to escape a prisoners dilemma

If you find yourself in a prisoners dilemma there are some ways you can try to get out of it. 1 – Communication In the normal definition of the problem the two prisoners are not able to communicate with each … Continue reading

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Introduction to Game Theory: Prisoners’ Dilemma (Part 5)

The previous part in this series looked at what happens when a prisoners’ dilemma game is played multiple times. It turns out that the best strategy is ‘tit for tat’, where you start off co-operating and then copy the other … Continue reading

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