The Prisoners' Dilemma

For this post I will be responding to a couple of questions by Matt about the prisoners' dilemma. When I was a kid my dad sat my brother and I down and did a similar simulation with us but with money. It was interesting as we cooperated for more of the simulation. Then my dad lied and told us that one of us had taken more and the other would get less (which was false). Once my brother and I lost trust in each other it went downhill from there. But while we both trusted each other and helped each other out we made a lot of money and were willing to not be selfish.

Why would cooperation between a business and their customers be so important?

When my brother and I cooperated, we both benefited. We made more money and were not bitter towards each other. However, once one of us lost our trust in the other it was never gained back. I think this is similar with corporations and their customers especially on the customer's end. When a customer trusts a company because that company has cooperated with that customer they are more likely to recommend the company and keep using the products. However, once a customer is skeptical about a company they will tell everyone and usually switch products.

How can you promote cooperation on social media?

One way I have seen companies cooperate over social media is on Twitter. Many times my friends have complained to a company and that company responds VERY quickly. Not only does this show the customer that the company care about the customer's needs, but it also shows the friends of that customer. I think this medium is perfect for promoting cooperation because the customer can voice their concerns and a company can provide instant customer service that gives their company a good reputation. 

When should a person cooperate and when should they be selfish?

Some people might say that a person should always cooperate. However, in the real world people only cooperate when they people they are interacting with are cooperating also. No one wants to be taken advantage of. We have a selfish nature, however we are more likely to get rid of that nature when we like the person we are working with and there is a benefit for us.