|
|
| Line 16: |
Line 16: |
| {{prisonersdilemmatable}} | | {{prisonersdilemmatable}} |
|
| |
|
| ===The [[eBayer’s dilemma]]===
| | Another way of looking at this, for those easily triggered, is as the [[eBayer’s dilemma]]. |
| {{eBayer’s dilemma}}
| |
| The consequence is easier to see in more familiar context. This version {{author|Douglas Hofstadter}} once described as the "briefcase came", but Millennials will recognise it as the [[eBayer’s dilemma]].
| |
| | |
| Strangers consider a settling a transaction they have drunkenly agreed on eBay to purchase a set of complete boxed set of the final season of ''Some Mothers Do ’Ave ’Em'' on VHS, for £100<ref>The eBayers don’t ''have'' to be drunk, but as we all know, most people on eBay ''are'', so this is a bit of dramatic colour.</ref>. The seller must pay and the buyer must post the videos simultaneously. Assume the seller would have sold the videos at any price over £50 (so the transaction represents a £50 profit for her), and privately, the buyer would have been prepared to pay £150 had that been the asking price (the transaction therefore representing a £50 profit for him).
| |
| | |
| When settling the transaction, each has the following risks:
| |
| *If the seller posts ''and'' the buyer pays:
| |
| **The seller will get £100 but will lose a video it values a £50 (+£50).
| |
| **the seller will get a video it values at £150 but must pay £100 (+50)
| |
| *If the seller posts, but the buyer does not pay:
| |
| **The buyer will have video it values at £150 for free (+£150)
| |
| **The seller has given away a video it values a £50 for nothing (-£50).
| |
| *If the buyer pays but the seller does not post:
| |
| **The buyer will have paid £100 for nothing (-£100)
| |
| **The seller will receive £150 and will still have the video it values a £50 (+£200).
| |
| *If the seller does not post ''and'' the buyer does not pay:
| |
| **The seller is in its original position (£0).
| |
| **The buyer is in its original position (£0).
| |
|
| |
|
| ===Single round prisoner’s dilemma=== | | ===Single round prisoner’s dilemma=== |