The Prisoner’s Dilemma has some important implications for the world of business and economics. But today, as the fundamental structure of our world and industries are altered by exponential technologies, these implications ought to be questioned. In many ways, the Prisoner’s Dilemma oversimplified human nature and makes some erroneous assumptions about it. It was theorized at a time where basic economic models and theories determined how players in various markets behave. Today, these models are losing credence.
Even based on social realities, it’s often tempting to take a cynical view of human nature. Given the various unpleasant interactions that we tend to have with people — from a friend taking advantage of us to a business deal ripe with corruption — it’s natural that we jump to this view.
The selfish parts of our nature undoubtedly exist. But so do the good ones, and these parts warrant as much attention as the bad parts. According to neuroscientists, altruism — the practice of concern for the welfare of others — may be more hardwired in our brains than previously thought.
Neuroscience has demonstrated that giving is a powerful pathway for creating more personal joy. Helping others triggers impacts to our brain in many positive ways. When we help others, our brains release oxytocin, serotonin and dopamine. These hormones have the effect of boosting our mood and counteract the effect of cortisol (the stress hormone).
This might urge some people to ask: is giving itself inherently selfish then? Perhaps, but that’s not a bad thing. On a neurobiological level, studies suggest that giving social support to others may benefit the giver more than the receiver. In one study, that compared giving versus receiving, participants were asked about various scenarios in which they either gave or received support. In a series of fMRI neuroimaging tests, the study found that giving ultimately had greater benefits than receiving. In other words, from an evolutionary perspective, our brains are hardwired to feel rewarded more for magnanimity and selflessness than for meanness and selfishness.
The brain images showed than when a participant was giving support, certain brain areas showed more activation: 1) reduced stress-related activity in the dorsal anterior cingulate cortex, and right amygdala, 2) greater reward-related activity in the left and right ventral striatum and 3) greater caregiving-related activity.