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Prisoner’s dilemma: Difference between revisions
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→The eBayer’s dilemma
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===The [[eBayer’s dilemma]]=== | ===The [[eBayer’s dilemma]]=== | ||
{{EBayer’s dilemma}} | {{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 | 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 boxed 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). | ||
When settling the transaction, each has the following risks: | When settling the transaction, each has the following risks: | ||