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Tit for tat

What is the meaning of tit-for-tat in game theory? (b) What conditions are usually required for tit-for-tat strategy to be the best strategy?

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Tit for tat is a strategy in which one player punishes the other player for non cooperating until the other person returns to cooperating. The conditions that are necessary for it to work are..
1. It is an iterative game.
2. The payoffs for player 1 and player 2 are PO1 and PO2 respectivelly and have the following properties
If Player 1 and Player 2 cooperate ...

Solution Summary

Tit for tat is summarized.

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