Game Theory 101 (, 60): Tit for Tat Isnt Subgame Perfect
In this lecture, we see that the punishment strategy titfortat attempts to employ in the repeated prisoner s dilemma is not actually credible. Indeed, if cooperation is so attractive to be worthwhile in the first place, then a player would not want to defect following an opponent s defection. As a result, titfortat is only a subgame perfect equilibrium for a single value of the discount factor, which is an unrealistic knifeedge condition.
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