I chose to the strategy of cooperation in hopes that the computer would do the s

Question

I chose to the strategy of cooperation in hopes that the computer would do the same and we would both reap the benefits. As I had hoped, the computer used what the creators of the program call a tit for tat strategy. The computer and I both ended up with 50 pieces each.

Unlike a human opponent, the computer can be counted on to maximize the potential gains. If I cooperated so would the program so both sides could achieve maximum gains. If one side or the other gets greedy, as humans usually do, there is a chance of a big win or a big loss. The best strategy in this particular situation, as it should be in life, is to play fair and share the rewards.

Do people cooperate or compete?

Explanation / Answer

50 pieces each

In nash equilibrium it co-opeated, Game theory i assume.

The game theory almost always rightly point out that co-opeartion will give both parties better results, but there is a problem here if too many players are there in market there would be no co-operation.

This will result in price decreases and less profit. Co-operation in real world can happen only from parties which are considerable market share and monopolistic.

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