Monday, May 11, 2020

The Tit-for-Tat Strategy in the Context of Game Theory

In the context of game theory,  tit-for-tat is a strategy in a repeated game (or a series of similar games). Procedurally, the tit-for-tat strategy is to choose the cooperate action in the first round and, in subsequent rounds of play, choose the action that the other player chose in the previous round. This strategy generally results in a situation where cooperation is sustained once it begins, but noncooperative behavior is punished by a lack of cooperation in the next round of play.

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