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Prisoner’s dilemma: Difference between revisions
→The eBayer’s dilemma]]
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**B will get 1 year in prison (on the lesser charge). | **B will get 1 year in prison (on the lesser charge). | ||
===The eBayer’s dilemma]]=== | ===The [[eBayer’s dilemma]]=== | ||
The consequence is easier to see in more familiar context. Strangers consider a settling a transaction they have agreed on eBay to purchase a set of complete boxeed set of the final season of ''Some Mothers Do ’Ave ’Em'' on VHS, for £100. 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, (the transaction therefore representing a £50 profit for him). | The consequence is easier to see in more familiar context. Strangers consider a settling a transaction they have agreed on eBay to purchase a set of complete boxeed set of the final season of ''Some Mothers Do ’Ave ’Em'' on VHS, for £100. 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, (the transaction therefore representing a £50 profit for him). | ||