Classroom Games: A Prisoner's Dilemma
Game theory is often introduced in undergraduate courses in the context of a prisoner’s dilemma paradigm. The author of this article provides a simple and easy to execute exercise to stimulate discussion discussion of a wide range of topics such as bankruptcy, quality standards, or price competition.
The authors lay out a game that can be played with playing cards easily, even in a large classes. An instruction sheet is included in the appendix to the paper. They also provide a framework for possible discussions.
- Active participation in classroom exercises increases retension of important concepts.
- The prisoner's dilemma framework can be applied to a large number of topics