How To Win A Trade War | tutor2u Economics

FiveThirtyEight has produced this super interactive game using game theory where you can find for yourself whether winning a trade war is as easy as President Trump appears to believe! 

It is a great example of the iterated Prisoner's' Dilemma

There are 100 rounds of trade with a randomly chosen FiveThirtyEight reader. In each round, you and your trade partner can either cooperate (allow free trade) or defect (impose an import tariff). Your goal is to pick a strategy that earns you as much as possible.

If you both cooperate in a given round, you each earn $15.

If you both defect, you each earn only $10.

If one of you cooperates and the other defects, the defector earns $25 while the cooperator earns only $5.

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