This summary was helpful for me, thanks! I was sad cos I could tell there was something I wanted to know from the post but couldn’t quite get it
In a Stag Hunt, the hunters can punish defection and reward cooperation
This seems wrong. I think the argument goes “the essential difference between a one-off Prisoner’s Dilemma and an IPD is that players can punish and reward each other in-band (by future behavior). In the real world, they can also reward and punish out-of-band (in other games). Both these forces help create another equilibrium where people cooperate and punishment makes defecting a bad idea (though an equilibrium of constant defection still exists). This payoff matrix is like that of a Stag Hunt rather than a one-off Prisoner’s Dilemma”
This summary was helpful for me, thanks! I was sad cos I could tell there was something I wanted to know from the post but couldn’t quite get it
This seems wrong. I think the argument goes “the essential difference between a one-off Prisoner’s Dilemma and an IPD is that players can punish and reward each other in-band (by future behavior). In the real world, they can also reward and punish out-of-band (in other games). Both these forces help create another equilibrium where people cooperate and punishment makes defecting a bad idea (though an equilibrium of constant defection still exists). This payoff matrix is like that of a Stag Hunt rather than a one-off Prisoner’s Dilemma”