What is the meaning of tit-for-tat in game theory

Reference no: EM13695120

1. How did the 1971 law that banned cigarette advertising on television solve the prisoners' dilemma for cigarette producers?

2. a) What is the meaning of tit-for-tat in game theory?

b) What conditions are usually required for tit-for-tate strategy to be the best strategy?

Reference no: EM13695120

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