Why Cooperation Outlasts Competition: Game Theory in Action
About this episode
Jay Patel discusses how game theory illustrates the benefits of cooperation over competition in business.
The prisoner’s dilemma is one of the most famous concepts in game theory: two players must decide whether to act in self-interest or trust each other. In business, we face the same choice every day. Do you squeeze your partners for every advantage, or build relationships that create value for both sides? In this episode of Hardware is Forever, Amtech CEO Jay Patel explores how game theory helps explain why self-protection often leads to stalled deals and missed opportunities, while cooperatio...
People in this episode
Host: Jay Patel
Topics covered
- game theory
- business cooperation
- prisoner's dilemma
- self-interest
- relationship building
Keywords
- game theory
- cooperation
- competition
- business relationships
- prisoner's dilemma
Mentioned in this episode
Organizations: Amtech, Hardware is Forever
Books & works: prisoner’s dilemma
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