Why in news ? 📰
🎙️ Addressing the Goa Maritime Conclave, Defence Minister Rajnath Singh emphasized the importance of "Prisoner's Dilemma" to urge countries to collaborate 🤝 rather than work against each other 🌐.
🌐 Introduction:
The Prisoner’s Dilemma sheds light on strategic decision-making in international relations, often seen in scenarios like arms races born of mutual fear and mistrust.
🎮 Prisoner’s Dilemma:
A classic "game" in Game Theory, it explores human behavior under different circumstances.
🔐 The Game:
Two suspects, A and B, face a choice - confess or stay silent.
1. Both stay silent: Each serves 1 year.
2. One confesses, the other stays silent: Confessor goes free, silent one gets 20 years.
3. Both confess: Both serve 5 years.
🤝 Resolution:
- Staying silent is ideal, but risky if the other confesses.
- If uncertain, confessing is the safer bet.
- Cooperation leads to the best outcome – both serve just 1 year.
🌍 Real-World Relevance:
- In business, companies must decide between endless price wars or setting a minimum price for mutual profit.
- In geopolitics, countries can avoid destructive arms races by establishing ground rules.
🎯 Conclusion:
The Prisoner's Dilemma offers insights into navigating strategic challenges in international relations, emphasizing trust, cooperation, and mutual gain.