What do you understand by the concept of “Prisoner’s Dilemma”? How can it be applied in practice in the Transport Sector?
In Prisoners dillema even though in a presence of pareto optimal choice set players do choose inferior choice set in the game of simultaneous moves.This is generally they dont show trust factor on oher player of the game.This tells us player tries to maximise their own payoff but end up in getting worser than any payoff possible.
In trasport sector we take real life example
Suppose there are two lanes running from A to B and one of the lanes L1 is jammed now the vehicle approaching to A knows that L1 is jammed so it is better to take Lane L2 (L1<L2 in length) but this information of traffice jam is known to all players hence L2 also gets jammed wihich in result creats more kiosk (i have assumed unique entry exit mode) Hence we end up getting worse pay off than we would have received in other way
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