Plans as Conditional Strategies: A Concept Enabling Cooperation in the Prisoners’ Dilemma
Discussion Paper of the Institute for Organisational Economics 5/2014
19 Pages Posted: 21 Dec 2014 Last revised: 8 Apr 2017
Date Written: May 1, 2014
In traditional game theory, strategies are equivalent with actions and mixed strategies are the only extension. As a new extension, strategies are interpreted as plans. Although most plans are not very interesting (like doing a certain action), some conditional plans are. For example, they enable cooperation in the Prisoners’ Dilemma.
Keywords: Cooperation, Prisoners' Dilemma, Game Theory, Rationality, Strategy
JEL Classification: C72, C70, D83
Suggested Citation: Suggested Citation