The prisoners' dilemma explores an example of game theory and how it relates to nearly every competitive situation in business. In the prisoners' dilemma two suspects in a crime are hauled to the police station, but the cops know that they don't have enough information for a conviction. They must get a confession so they split the suspects up and force them to make a decision on whether they will confess or leave their fate up to the other suspect. This often plays out in competitive situations in business. The goal of this video is to bring this concept to life.
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