ENG ELC 220 Lecture Notes - Lecture 10: Social Dilemma, Cathode, Homo Economicus
27 Oct 2020
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Task 8: cooperation (and fear, greed, guilt, punishment, trust) Ultimate game: two participants bargain over an amount of money (10$). A proposer has to offer some proportion of the. If the responder accepts the offer, then she gets to keep the sum and the proposer keeps whatever is left. If the responder rejects the offer, then neither party gets to keep any money. In the experimental situation, there is no communication between proposer and responder, so there is no discussion or negotiation. Game theory: the analysis of interactions between rational agents. The word game refers to involving two agents, each of whom there are two or more strategies. According to this theory, both participants should act in a way that maximizes their self-interest. The responder should accept any amount that is offered, because however small this is she will go away with more than she had before. The proposer should anticipate this and offer the smallest amount possible.
