An Economics Experiment (test your intuition)

[Sephus]

heh oops, it does say majority to move and not unanimity.

[madnak]

If it's been done in real life, I guarantee that someone at some point decided to be stubborn.

[diddle]

I'm sure they tried to be stubborn, but they always gave in.

[Evenkeal]

Among a game where there is a "butterfly", (eg. two points on left, one in center, two points on right), the game ends in the center, because both players want to "bribe" the player in the center to end the game closer to them. As they lose value in bribing by pushing themselves closer and closer to the center, they eventually end the game on the center point.

(crude example: they vote to put the point 2 left of the center. It passes. Then they vote to put the point 1 right of the center. It passes (better for player 1, and two right side players.) Etc.)

[Evenkeal]

However, if the game is fair, then 3 people will always win. For example, consider a game where one nominates a distribution of scores (a,b,c,d,e) where a+b+c+d+e = 1. The game clearly ends in (1/3, 1/3, 1/3, 0, 0).

[Evenkeal]

Actually, it doesnt even need to be a fair game. Move the top right player's point to the very bottom of the grid. Then the game obviously ends closer to the bottom, and not on player 1's point.

[almostbusto]

I think if all 5 players were very clever and rational they could get it to the max point. this is because they could all determine each other's pay offs without ever stating them... for example player 4 could tell player 5 that he could bribe him X amount of dollars to move the location to (50,30)(Player 4's max payoff).

each player would try to bribe/solicit bribes to increase there payoff. so there would be two ways to increase you payoff, get more bribe money or move the location. now the math might get hairy but after enough offers 5 smart people should be able to solve it perfectly after a bunch of bids.

this, as i understand it, would not be breaking the rules.


also noteworthy is the fact that they will finish at the max total payoff, but each player is unlikely to recieve their payoff based on the grid number and formule. ie player 2 will probably get paid some money for accepting that postion

[vhawk01]

[ QUOTE ]
I think if all 5 players were very clever and rational they could get it to the max point. this is because they could all determine each other's pay offs without ever stating them... for example player 4 could tell player 5 that he could bribe him X amount of dollars to move the location to (50,30)(Player 4's max payoff).

each player would try to bribe/solicit bribes to increase there payoff. so there would be two ways to increase you payoff, get more bribe money or move the location. now the math might get hairy but after enough offers 5 smart people should be able to solve it perfectly after a bunch of bids.

this, as i understand it, would not be breaking the rules.


also noteworthy is the fact that they will finish at the max total payoff, but each player is unlikely to recieve their payoff based on the grid number and formule. ie player 2 will probably get paid some money for accepting that postion

[/ QUOTE ]

Do they have to wink when they ask?

[Sephus]

[ QUOTE ]
I think if all 5 players were very clever and rational they could get it to the max point. this is because they could all determine each other's pay offs without ever stating them... for example player 4 could tell player 5 that he could bribe him X amount of dollars to move the location to (50,30)(Player 4's max payoff).

each player would try to bribe/solicit bribes to increase there payoff. so there would be two ways to increase you payoff, get more bribe money or move the location. now the math might get hairy but after enough offers 5 smart people should be able to solve it perfectly after a bunch of bids.

this, as i understand it, would not be breaking the rules.


also noteworthy is the fact that they will finish at the max total payoff, but each player is unlikely to recieve their payoff based on the grid number and formule. ie player 2 will probably get paid some money for accepting that postion

[/ QUOTE ]

in general when you're doing problems like this, you can't assume that the players have things outside the game to barter with.

it looks like the answer is player 1's point, simply because when you're at any other point there are alternate points that at least 3 of the 5 would prefer to be at.

[almostbusto]

[ QUOTE ]
[ QUOTE ]
I think if all 5 players were very clever and rational they could get it to the max point. this is because they could all determine each other's pay offs without ever stating them... for example player 4 could tell player 5 that he could bribe him X amount of dollars to move the location to (50,30)(Player 4's max payoff).

each player would try to bribe/solicit bribes to increase there payoff. so there would be two ways to increase you payoff, get more bribe money or move the location. now the math might get hairy but after enough offers 5 smart people should be able to solve it perfectly after a bunch of bids.

this, as i understand it, would not be breaking the rules.


also noteworthy is the fact that they will finish at the max total payoff, but each player is unlikely to recieve their payoff based on the grid number and formule. ie player 2 will probably get paid some money for accepting that postion

[/ QUOTE ]

in general when you're doing problems like this, you can't assume that the players have things outside the game to barter with.

it looks like the answer is player 1's point, simply because when you're at any other point there are alternate points that at least 3 of the 5 would prefer to be at.

[/ QUOTE ]

you don't need anything outside of the game to barter with. they are bartering with the profits that they would gain if everyone votes for the game to end. its like saying "hey player 1 if you vote for the position i pick, ill toss you a buck when its all over"