1. Prisoner’s Dilemma
Crystalyn Choong

2. What is it?
It is a standard example of a game analyzed in game theory that shows why two completely rational individuals might not cooperate.

3. Example A and B are prisoners
They have been arrested and there is evidence of their wrong doings.
A and B are placed in different rooms and can’t communicate with each other.
They are told that if they both confess, they will be sentenced to 3 years in jail. If A confesses and the B doesn’t, A will get sentenced to 1 year and B will get sentenced to 10 years. If they both deny the crime they will only get a sentence of 2 years.

5. Running Man - Korean variety show
They had a mini game that is similar to prisoner’s dilemma
Two of the co-hosts of the show are told to choose between gold and love. If they both choose gold, both of them will lose all of their earnings and their earnings would be given to the rest of the members.
If one chooses gold and the other chooses love, the one who chose gold will keep their earnings and the one who chose love will lose everything they earned.
If both chooses love, the both of them will earn double the current earnings they got from the duration of the episode.

6. Sources