When teaching business negotiation to my MBA students, one exercise that consistently captivates their attention is the timeless scenario of the Prisoner’s Dilemma, a construct rooted in Game Theory.
The hypothetical situation features two individuals detained by the police on suspicion of committing a serious crime. Despite the investigator’s inability to substantiate their involvement in the crime, he proposed a strategy with a high likelihood of securing at least one conviction, if not two.
