Dear All,
I am starting the discussion on "Game Theory and its application." To start with, the following is one puzzle. Please try to solve.
Two suspects are arrested for a crime. The prisoners decide whether to confess or not to confess. If both confess, both are sentenced to 3 months in jail. If both do not confess, then both will be sentenced to 1 month in jail. If one confesses and the other does not, then the confessor goes free (0 months in jail) and the non-confessor is sentenced to 9 months in jail.
What should each prisoner do?
Coming more in the next post....
Regards,
From India, Pune
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131I am starting the discussion on "Game Theory and its application." To start with, the following is one puzzle. Please try to solve.
Two suspects are arrested for a crime. The prisoners decide whether to confess or not to confess. If both confess, both are sentenced to 3 months in jail. If both do not confess, then both will be sentenced to 1 month in jail. If one confesses and the other does not, then the confessor goes free (0 months in jail) and the non-confessor is sentenced to 9 months in jail.
What should each prisoner do?
Coming more in the next post....
Regards,
From India, Pune
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I think, one should confess and other don’t. In this case, if the confessor get free, then other will also be free referring the case of confessor.
From India, New Delhi
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From India, New Delhi
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Please give the answer as I am working on Game Theory project and this would really help me in understanding the concept better.
From India, Mumbai
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From India, Mumbai
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This reminds me of a game called Golden Balls in the UK. Two contestants have to pick a ball for a jackpot prize. There is a jackpot of 60,000 pounds Sterling. If both choose "Split," they get half the jackpot prize. If one chooses "Split" and the other "Steal," the one that chose "Steal" gets all the money; and if both choose "Steal," then neither gets the money. What would you choose if you were a contestant?
From United Kingdom
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From United Kingdom
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Dear All,
Let's work on this. (Refer my question) and also Simhan problem can be solved by this method.
We will make the pay off matrx as under:
Firts Box:
Prinioner 1 and Prisioner 2
Confess : Both gets 3 month setence
Second Box
Prisioner 1 not confessed and Prisioner 2 confesses
Prisioner 2 gets 9 months sentence
Third box:
Prisioner 1 Not confess and Prisoner 2 confess
Prisoner 1 gets 9 month sentence
Box Four:
If both do not confess they get only one month setence.
As per the Nash equilibrium
Each player’s predicted strategy is the best response to the predicted strategies of other players. Here no incentive to deviate unilaterally givern. Strategically it is stable and best option.
And here the probability is Box first: Both confess and get 3 months setence.
What do you think?
Regards,
Vinod Bidwaik
From India, Pune
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Let's work on this. (Refer my question) and also Simhan problem can be solved by this method.
We will make the pay off matrx as under:
Firts Box:
Prinioner 1 and Prisioner 2
Confess : Both gets 3 month setence
Second Box
Prisioner 1 not confessed and Prisioner 2 confesses
Prisioner 2 gets 9 months sentence
Third box:
Prisioner 1 Not confess and Prisoner 2 confess
Prisoner 1 gets 9 month sentence
Box Four:
If both do not confess they get only one month setence.
As per the Nash equilibrium
Each player’s predicted strategy is the best response to the predicted strategies of other players. Here no incentive to deviate unilaterally givern. Strategically it is stable and best option.
And here the probability is Box first: Both confess and get 3 months setence.
What do you think?
Regards,
Vinod Bidwaik
From India, Pune
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Hi All, In Simhan’s question, the strategic self enforcing option is Firts box where both chosses splits. Any second openion? Regards, Vinod Bidwaik
From India, Pune
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From India, Pune
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What Vinod has written is called "Prisoners' Dilemma". You can see more details at Prisoner's dilemma: Definition from Answers.com.
In the game I have cited, I have seen people share 90,000 pounds, as well as people stealing 1 pound. People who decide to split, just to see that they have lost, have said that they can sleep fully knowing that they did not lie or cheat.
From United Kingdom
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In the game I have cited, I have seen people share 90,000 pounds, as well as people stealing 1 pound. People who decide to split, just to see that they have lost, have said that they can sleep fully knowing that they did not lie or cheat.
From United Kingdom
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