Dear All,
I am staring the discussion on "Game Theory and its application."
To start with following is one puzzle. Please try to solve.
Two suspects arrested for a crime,
Prisoners decide whether to confess or not to confess,
If both confess, both sentenced to 3 months of jail,
If both do not confess, then both will be sentenced to 1 month of jail
If one confesses and the other does not, then the confessor gets freed (0 months of jail) and the non-confessor sentenced to 9 months of jail
What should each prisoner do?
Comming more in next post....
Regards,
From India, Pune
124I am staring the discussion on "Game Theory and its application."
To start with following is one puzzle. Please try to solve.
Two suspects arrested for a crime,
Prisoners decide whether to confess or not to confess,
If both confess, both sentenced to 3 months of jail,
If both do not confess, then both will be sentenced to 1 month of jail
If one confesses and the other does not, then the confessor gets freed (0 months of jail) and the non-confessor sentenced to 9 months of jail
What should each prisoner do?
Comming more in next post....
Regards,
From India, Pune
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
From India, New Delhi
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
From India, Mumbai
This reminds of a game called Golden Balls in the UK. Two contestants have to pick a ball for a jackpot prize. There is 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 the "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
From United Kingdom
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
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
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
From India, Pune
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
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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