The Prisoner’s Dilemma is a classic example of game theory, which is a branch of mathematics that studies the strategic interactions between individuals or groups. In this article, we will explore the concept of the Prisoner’s Dilemma, how it applies to real-life situations, and its implications for decision-making. What is the Prisoner’s Dilemma? The Prisoner’s …
Prescriptive analytics is the process of using data, models, and optimization techniques to generate specific recommendations or actions. It involves techniques such as decision analysis, simulation, and optimization.