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Why is There Champagne On Offer at New Year’s Eve? Prisoner’s Dilemma

In: 33 Phenomena of Purchasing Decisions

Author

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  • Sebastian Oetzel

    (Hochschule Fulda – University of Applied Sciences)

  • Andreas Luppold

Abstract

This chapter introduces the prisoner’s dilemma from game theory, provides a game-theoretical explanation for the frequent implementation of price promotions in retail, and discusses a strategy to avoid the prisoner’s dilemma in repeated games from a theoretical perspective.

Suggested Citation

  • Sebastian Oetzel & Andreas Luppold, 2024. "Why is There Champagne On Offer at New Year’s Eve? Prisoner’s Dilemma," Springer Books, in: 33 Phenomena of Purchasing Decisions, chapter 0, pages 51-54, Springer.
    • Handle: RePEc:spr:sprchp:978-3-658-44799-1_10
    DOI: 10.1007/978-3-658-44799-1_10
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