Tit For Tat
- From an analysis of the 3-million choices made in the second competition, four features of TIT FOR TAT emerged:
- 1. Never be the first to defect
- 2. Retaliate only after your partner has defected
- 3. Be prepared to forgive after carrying out just one act of retaliation
- 4. Adopt this strategy only if the Probability of meeting the same player again exceeds 2/3.
Related: Repeated Game: In game theory, a repeated game is an extensive form game that consists of a number of repetitions of some base game (called a stage game). The stage game is usually one of the well-studied 2-person games. Repeated games capture the idea that a player will have to take into account the impact of his or her current action on the future actions of other players; this impact is sometimes called his or her reputation. Single stage game or single shot game are names for non-repeated games. https://en.wikipedia.org/wiki/Repeated_game