Hey Y'all!
Hope you head a great Halloween! Too bad it was on a wednesday as that falls right during the time of midterms; in that case I wish you the best of luck! Today I'm going to talk a bit about the Prisoners Dilemma, an economic game I find particularly interesting because the conflict it presents always brings out my indecisive side.
Prisoners Dilemma really gets at the crux of game theory and what I find truly intriguing about it is how human beings will be hesitant to cooperate with each other due to self interest and a lack of trust in the other person, regardless of how the cooperation may benefit them. Inherent in the design is the fact that betrayal of the other "prisoner" yields a better reward (in this case a lesser sentence) than cooperation does, however contrary to what one would think, people tend to show a bias towards cooperation.
If you want some information as to how this is set up just click on this link!
http://en.wikipedia.org/wiki/Prisoner's_dilemma
Thanks and Best of Luck!
Chris
Hope you head a great Halloween! Too bad it was on a wednesday as that falls right during the time of midterms; in that case I wish you the best of luck! Today I'm going to talk a bit about the Prisoners Dilemma, an economic game I find particularly interesting because the conflict it presents always brings out my indecisive side.
Prisoners Dilemma really gets at the crux of game theory and what I find truly intriguing about it is how human beings will be hesitant to cooperate with each other due to self interest and a lack of trust in the other person, regardless of how the cooperation may benefit them. Inherent in the design is the fact that betrayal of the other "prisoner" yields a better reward (in this case a lesser sentence) than cooperation does, however contrary to what one would think, people tend to show a bias towards cooperation.
If you want some information as to how this is set up just click on this link!
http://en.wikipedia.org/wiki/Prisoner's_dilemma
Thanks and Best of Luck!
No comments:
Post a Comment