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Notes
1. The prisoner’s dilemma is a classic game studied in the economics area of game theory where two participants have to choose among two options. Highest group gains are only obtained through cooperation but incentives are such that if individual rewards are followed no cooperation would be the chosen solution and group gains would be the lowest as a result of the game.
2. The Coase theorem is an economic theory that describes how in competitive markets without transaction costs, two parties will bargain to arrive at an optimal win–win situation independently of how property rights are allocated.
3. Model of economic development that emphasizes the importance of proficiency in execution of tasks in a production chain in order to achieve high value in production.