prisoners dilemma

THE PRISONER’S DILEMMA (I). In the prisoner’s dilemma two people have been arrested, the one inmate is called Smith. In this situation the authorities are not interested in the truth but only want to convict someone. An interrogator lays out the consequences for Smith. If Smith does not confess but the other guy confesses against Smith, they will release him and Smith will be put away for ten years. If Smith confesses and …showed first 75 words of 1052 total…

…showed last 75 words of 1052 total…contained one hundred dollars. In a complete egoist society you would have to assume that your money was now in the hands of someone else’s. Even if the next week you found a wallet containing two hundred dollars, the situation is still bad for the individual that lost the wallet. By acting in this way every one loses and both parties would be better off if they acted not in their own individual self-interest.