Game Theory and Python: An educational tutorial to game theory and repeated games using Python
The advantage of studying the Iterated Prisoner’s Dilemma is that it models situations in which selfinterest clashes with collective interest, thus it provides a framework for illustrating the usage of mathematics in real-life decision making.
Abstract
Game theory is a field of applied mathematics interested in strategic interactions. Game theory itself has a number of subfields and the one considered in this tutorial is the area of repeated games. Repeated games have been the subject of research (Axelrod & Hamilton, 1981; Glynatsi & Knight, 2021; Nowak, 2006) but have also been used extensively as an entry to the subject for students at undergraduate level courses (Brokaw & Merz, 2004; Knight, 2015). This tutorial focuses on the Iterated Prisoner’s Dilemma. The advantage of studying the Iterated Prisoner’s Dilemma is that it models situations in which selfinterest clashes with collective interest, thus it provides a framework for illustrating the usage of mathematics in real-life decision making.