Source: EconLog
by Pierre Lemieux
“Economic models of cooperation and conflict are often based on the Prisoner’s Dilemma (PD) of game theory. As simple as this model is, it helps us understand whether or not a war will be fought, where ‘fought’ includes escalation steps through retaliation –the current situation between the government of Israël and the government of Iran.” (04/17/24)
https://www.econlib.org/prisoners-dilemma-a-simple-model-of-war/