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The Prisoner's Dilemma of cooperation

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A prisoner's dilemma is a situation where two parties choose to cooperate or not, and where both gain when both cooperate, but if only on cooperates the other gains even more, while if both do not cooperate both lose (Velasquez, 2006).

Is the prisoner's dilemma relevant to business ethics? Why or why not?

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The Prisoner's Dilemma describes good long-term business practices. If both sides ensure that both sides can make a reasonable profit, they are working for a successful long-term relationship. If both sides can help ...

Solution Summary

This solution discusses how the Prisoner's Dilemma describes good long-term business.