Spouses Dilemma -1
*In trying to explain this variant of the Prisoner’s Dilemma – a model that involves strategic decision making, I have tried, not to use vocabulary that requires a degree in Game Theory to understand. However certain words need to be understood in order to appreciate the article. I have explained these terms as and when required in Consider a one stage game in which John and L simultaneously choose between cleaning the house and loafing on a single day. Before moving further, a quick look at some definitions and concepts: Game : A situation in which a number of individuals make decisions and each cares about his own choices and other’s choices. One stage game : A game in which each player makes all of his choices before observing any choice by the other players. Infinitely Repeated game : Is formed by playing a one stage game many times in succession. Strategy : Any rule that specifies a choice based on the history of past choices. Best Response...