Prisoner's Dilemma
A standard example of a game analyzed in game theory that shows why two completely ‘rational' individuals might not cooperate, even if it appears that it is in their best interests to do so.
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Origin
Originally framed by Merrill Flood and Melvin Dresher in 1950 while they worked at RAND. Albert W. Tucker later formalized the game by structuring the rewards in terms of prison sentences and named it "prisoner's dilemma".