What is a tit-for-tat strategy? A tit-for-tat strategy is a strategy A. in which
ID: 1107803 • Letter: W
Question
What is a tit-for-tat strategy?
A tit-for-tat strategy is a strategy
A.
in which a player responds in kind to an opponent's previous play.
B.
that maximizes a player's expected payoff.
C.
in which a player makes
a random choice baseda random choice based
on a set of probabilitieson a set of probabilities.
D.
that is optimal no matter what an opponent does.
E.
that maximizes the minimum gain that can be earned.
Why is it a rational strategy for the infinitely repeated prisoners dilemma?
A tit-for-tat strategy of cooperation is rational in infinitely repeated games because
A.
cooperating is the
Nash equilibrium toNash equilibrium to
separate one-period games.
B.
the
long dash termlong-term
gains from cooperating outweigh the
short dash termshort-term
gains from cooperating.
C.
no final period exists when it is optimal to undercut one's opponent.
D.
a tit-for-tat strategy does not depend on the actions of other players.
E.
the
expectedexpected
gains from undercutting outweigh the
expectedexpected
gains from cooperating.
Explanation / Answer
1.Ans:- A tit-for-tat strategy is a strategy
a) In which a player responds in kind to an opponent's previous play.
Tit-for-tat is a game theory which aims to explain the human behaviour in competitive enviornment in an economic setup. The tit-for -tat strategy becomes successfull when one person co operates with another person in a game theory.
2. Ans:- A tit-for-tat strategy of cooperation is rational in infinity repeated games because
(b) the long dash termlong-term gains from cooperating outweight the short dash termshort-term gains from cooperating.
As the tit for tat strategy encourages cooperation between players by repeating their interaction in every steps which ouweights the long term gains from cooperation than short time gains fron non cooperation. Spo it is considered as rational.
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