Tit For Tat

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Dictionary Says

Definition of 'Tit For Tat'

A game-theory mechanism which is subject to a payoff matrix similar to that of a prisoner’s dilemma. Tit for tat was introduced by Robert Axelrod, who developed a strategy where each participant in an iterated prisoner’s dilemma will follow a course of action which is consistent with their opponent’s previous turn. For example, if provoked, a player will subsequently respond with retaliation, but if they are not provoked, the player will subsequently cooperate.
Investopedia Says

Investopedia explains 'Tit For Tat'

Tit-for-tat strategies are based on the concepts of retaliation and altruism. When faced with a prisoner’s dilemma-like scenario, an individual will cooperate when the other member has an immediate history of cooperating and will default when the counterparty previously defaulted.

This concept is often applied to economics and biology.

Search results for

'Tit For Tat'

  • 8 Biggest Global Trade Offenders - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1011/8-Biggest-Global-Trade-Offenders.aspx
    ... trading partner, a trade war can erupt, in which countries ratchet up protectionist
    policies in a tit-for-tat manner, ultimately leading to economic slowdown. ...

  • The Cost Of Unemployment To The Economy - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0811/The-Cost-Of-Unemployment-To-The-Economy.aspx
    ... Protectionism can not only lead to destructive tit-for-tat retaliation among countries,
    but reductions in trade harm the economic well-being of all trading ...

  • Cavium Should Be Bottoming Out

    http://stocks.investopedia.com/stock-analysis/2011/Cavium-Should-Be-Bottoming-Out-CAVM-CSCO-IBM-FFIV-EMC-JNPR-BRCM-QCOM-FSL1101.aspx
    ... It's not quite accurate to say that Qualcomm and Broadcom are in a tit-for-tat
    competition, but the reality is that the company's do overlap and compete, and ...

  • China's Potash Hypocrisy

    http://stocks.investopedia.com/stock-analysis/2010/Chinas-Potash-Hypocrisy-BHP-POT-SNP-PTR-ACH-BYDDY-LYSDY0916.aspx
    ... Although there may be some risk of tit-for-tat retaliation if China sees this as
    a move to threaten its agricultural sector, the reality is that China ...

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