The Christmas Gift Dilemma
Your beloved and you decide that with so many gifts already planned for kids, extended family, and friends, you will not give each other gifts this year.
But then a doubt assails you. What if they do give you something after all, and you don’t have anything for them? You’d feel like a fool. So maybe you should get them something anyway, just to be safe. But then they may end up on the cheap side.
This dilemma is a classic game theory problem called the prisoner’s dilemma that Vince Knight, a lecturer in Operational Research at Cardiff University, explores for you in this article. A must-read before Christmas.