The approval mechanism solves the prisoner's dilemma theoretically and experimentally

Preprint OPEN
Tatsuyoshi Saijo; Yoshitaka Okano; Takafumi Yamakawa; (2015)
  • Subject: prisoner’s dilemma, approval mechanism, mutually assured destruction, cooperation, subgame perfect elimination of weakly dominated strategies, experiment
    • jel: jel:D74 | jel:C92 | jel:C73 | jel:P43 | jel:C72

Consider a situation where players in a prisoner's dilemma game can approve or reject the other's choice such as cooperation or defection. If both players approve the other's choice, the outcome is the one they chose, whereas if either one rejects the other's choice, th... View more
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