What is a tit-for-tat strategy?
A) a strategy used in repeated games where one player follows the other players move in the previous round
B) a strategy in one-shot games where two players will collude to the detriment of other firms in the industry
C) a strategy in a one-shot game where self-interest prevents cooperative behaviour and leads to an inferior joint outcome
D) a strategy used in repeated games where players work together to plan what moves each will make in each round

Question

Quizplus · Accepted Answer

A tit-for-tat strategy is a strategy used in repeated games where one player follows the other player's move in the previous round. This strategy involves responding to cooperation with cooperation and responding to defection with defection. It is a popular strategy in game theory due to its simplicity and effectiveness in promoting cooperation.

What Is a Tit-For-Tat Strategy