Prisoner’s dilemma: Difference between revisions
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{{prisonersdilemmatable}} | {{prisonersdilemmatable}} | ||
An exercise in calculating economic outcomes by means of {{tag|metaphor}}. | An exercise in calculating economic outcomes by means of {{tag|metaphor}}. | ||
Two people are charged with a conspiracy<ref>Whether or not they are guilty is beside the point. If it helps you empathise with their predicament, assume they’re innocent</ref>. Each is held separately. They cannot communicate. There is enough evidence to convict both on a lesser charge, but not the main charge. Each prisoner is separately offered the same plea bargain. The offer is: | Two people are charged with a conspiracy<ref>Whether or not they are guilty is beside the point. If it helps you empathise with their predicament, assume they’re innocent</ref>. Each is held separately. They cannot communicate. There is enough evidence to convict both on a lesser charge, but not the main charge. Each prisoner is separately offered the same plea bargain. The offer is: | ||
*If A informs B but B refuses to inform on A: | *If A informs B but B refuses to inform on A: | ||
| Line 12: | Line 11: | ||
**A will get 1 year in prison (on the lesser charge). | **A will get 1 year in prison (on the lesser charge). | ||
**B will get 1 year in prison (on the lesser charge). | **B will get 1 year in prison (on the lesser charge). | ||
The [[prisoner’s dilemma]] is a thought process which replicates the incentives present when participants buy or sell in the market. | |||
===[[single round prisoner’s dilemma]]=== | ===[[single round prisoner’s dilemma]]=== | ||
If you play this game in isolation the payoff is grim: | If you play this game in isolation the payoff is grim: if you cooperate you get reamed. Your best interest is in informing on the other guy, because ''his'' best interest is in forming on ''you''. | ||
This look | |||
{{seealso}} | {{seealso}} | ||
Revision as of 13:31, 23 July 2018
|
Pay-off table |
A cooperates |
A defects |
|
B cooperates |
A gets 1 year |
A goes free |
|
B defects |
A gets 3 years |
A gets 2 years |
An exercise in calculating economic outcomes by means of metaphor. Two people are charged with a conspiracy[1]. Each is held separately. They cannot communicate. There is enough evidence to convict both on a lesser charge, but not the main charge. Each prisoner is separately offered the same plea bargain. The offer is:
- If A informs B but B refuses to inform on A:
- A will not be prosecuted at all and will go free
- B will be convicted of the main charge and will get 3 years in prison.
- If A informs B and B informs on A:
- A will get 2 years in prison
- B will get 2 years in prison
- If A refuses to inform on B and B refuses to inform on A:
- A will get 1 year in prison (on the lesser charge).
- B will get 1 year in prison (on the lesser charge).
The prisoner’s dilemma is a thought process which replicates the incentives present when participants buy or sell in the market.
single round prisoner’s dilemma
If you play this game in isolation the payoff is grim: if you cooperate you get reamed. Your best interest is in informing on the other guy, because his best interest is in forming on you.
This look
See also
References
- ↑ Whether or not they are guilty is beside the point. If it helps you empathise with their predicament, assume they’re innocent