What Are Some of the Main Reasons Plans Fail

question 55

Essay

What are some of the main reasons plans fail?

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Definitions:

Prisoners' Dilemma

A scenario in game theory where individuals act out of self-interest leading to a worse outcome than if they had cooperated, despite their best interest to work together.

Free Rider Problem

A situation in which individuals consume more than their fair share of a public resource, or shoulder less of the cost of its provision, thereby taking advantage of others' contributions.

Anti-Competitive

Practices that reduce or prevent competition in a market, leading to less favorable conditions for consumers.

Nash Equilibrium

A concept in game theory where no player can benefit by changing their strategy while others keep theirs unchanged.