Provide a description of the TIT FOR TAT strategy. Give a brief explanation of the importance of TIT FOR TAT strategy in Robert Axelrod's computer tournaments and the implications of his results for public policy

What will be an ideal response?

The TIT FOR TAT Strategy is to cooperate as long as the other player cooperates and then defect if the other player defects. More generally, it is to start by cooperating and then do whatever the other player does. Axelrod's computer tournaments involved robots interacting with each other in a repeated prisoner's dilemma game. Other than the ability to cooperate or defect and the associated payoff matrix, the tournament was devoid of rules. Axelrod found that TIT FOR TAT was the dominant strategy in this situation. The implication public policy is that it shows how, in certain situations, cooperation and mutual exchange can emerge from anarchy as a dominant strategy. This implies that just because there could be free rider problems government could solve does not mean that there will be free rider problems.