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The Christmas Gift Dilemma

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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.

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