Prisoner's Dilemma
The Wisdom of Crowds
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Everyone talks about increasing safety, security and privacy on the web. But in spite of decades of work to achieve these ends, people still find it hard to know which individuals they meet on the Internet they can trust. Worse still, many sites, including classified ad giant Craigslist, only function when both parties act honestly, an outcome Game Theory has shown to be least likely in such a situation. If the web is to reach its maximum utility, this Prisoner's Dilemma of the Web must be resolved. In this paper, we detail the causes - and existing remedies for - distrust between individuals on the web. By outlining seven strategies for fostering peer-to-peer trust, we set up a scenario that combines a few of these strategies with Craigslist to create a theoretical model for breaking the web's Prisoner's Dilemma.