“ Advertising is often seen as a prisoner’s dilemma among firms, because each wishes to out-spend the other, but in so doing, end up spending far more than would be necessary to achieve the same result. The publicly imposed ban on cigarette advertising can be seen as a legislated solution to the prisoner’s dilemma of advertising wars. ”
from the answer key to a question that asked why, even with the ban on cigarette commercials, there was no drop in smoking.
