Game Theory Experiment

Discussion in 'Politics & Religion' started by aphexcoil, Nov 16, 2002.

  1. I would like to do a game theory experiment that is parallel to the "prisoner problem."

    I will need volunteers to assist in this experiment (this is going to be a lot of fun for those who sign up).

    Everyone who signs up for this experiment will be paired with another EliteTrader member. After everyone has signed up, the game will begin. Here is the problem:

    Both you and your partner have been charged with the crime of burglary. There are several options that you two have. In the first phase of this experiment, the two of you are NOT allowed to collaborate with each other. You must have a decision based on your own best self-interest.

    The second phase of this experiment will allow collaboration. So, let us begin.

    If YOU confess and your partner does not confess to the crime, your partner receives 20 years in jail and you get off free. If your partner confesses and you do not, you will receive 20 years in jail. If neither you or your partner confess, you will both receive 1 year in jail for a weapons violation charge (major charge dropped). If, however, you both confess, you will each receive ten years in jail.

    Your objective is to look after your own self-interest. You must make a decision that puts you in jail the least amount of time. You MAY NOT collaborate with your partner at this stage (trial #1).

    Remember, here are the rules:

    You don't know what the other person is going to do
    You want to spend as little time in jail as possible
    If you confess and they don't, you get off and they serve 20
    If you confess and they confess, you each serve 10
    If you don't confess and they confess, you serve 20
    If you don't confess and they don't confess, you each serve 1

    Please sign up now on this thread and I will pair people together. We will then use PM for confessions / non-confessions and I will report back with what happened with each person in each group.

    Let the games begin!