Tit For Tat

A Game Theory strategy based on the Prisoners Dilemma.

http://www.abc.net.au/science/slab/tittat/overview.htm

• From an analysis of the 3-million choices made in the second competition, four features of TIT FOR TAT emerged:
• 1. Never be the first to defect
• 2. Retaliate only after your partner has defected
• 3. Be prepared to forgive after carrying out just one act of retaliation
• 4. Adopt this strategy only if the Probability of meeting the same player again exceeds 2/3.

Related: Repeated Game: In game theory, a repeated game is an extensive form game that consists of a number of repetitions of some base game (called a stage game). The stage game is usually one of the well-studied 2-person games. Repeated games capture the idea that a player will have to take into account the impact of his or her current action on the future actions of other players; this impact is sometimes called his or her reputation. Single stage game or single shot game are names for non-repeated games. https://en.wikipedia.org/wiki/Repeated_game