prisoner's dilemma - Economics Students Society of Australia

prisoner's dilemma

A collection of 3 posts

The return of Commballnomics: drinks, DPs and other dilemmas

The return of Commballnomics: drinks, DPs and other dilemmas

ESSA’s Commball prep last year was slightly unusual. Forget the haircuts or the wardrobe shopping; we cracked out our calculators and our matrices and went out in search of hidden, ball-themed economic case studies. Yeah, we’re weird. One year on, it seems we still haven’t figured out

Another kind of dilemma

In the heart of the Arctic Ocean, a pair of stickleback fish is on the hunt for prey. A fierce-looking rainbow trout quickly approaches and the fish are suddenly nervous. With a predator nearby, each fish is now faced with a life or death situation. Should they act together and

Irrational Strategies: Dealing with an Altruistic Prisoner

homo economicus

Irrational Strategies: Dealing with an Altruistic Prisoner

So you are presented with the following prisoner’s dilemma game. What is your choice? Most economics freshmen will have learnt that when presented with the choices of cooperation or finking, finking is the dominant strategy, and an all-fink nightmare is the only pure strategy Nash equilibrium. Against homo economicus,