Everyone Gets Tit-for-Tat Wrong - Populist Conservatism #9

Virtually all videos get Tit-for-Tat wrong - it only provides a solution when there are two players with perfect information. What if there are 2000 players and 600 defected - and you don’t know who they are? The real barrier to cooperation is information.

Chapters
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0:00 Prisoner’s Dilemma
2:25 Tit-For-Tat
5:38 The Folk Theorem
8:35 The Market for Lemons
12:01 False Market Failures
16:30 Signals
22:38 Signaling Treadmill
24:56 Perception vs. Reality