game thoery

A detailed Summary of game thoery

One of the most famous and most thoroughly studied examples of game theory is the Prisoner's Dilemma. In this situation, the police have caught two people and charged them with a crime. The police separate the prisoners into different rooms and give them the option of confessing. The police tell the two prisoners that they have enough evidence of the crime to send them to jail for X amount of years. However, if one prisoner confesses fully to the crime and testifies against the other but the other doesn't, then the prisoner who confessed will get a much lighter sentence than X and the prisoner who did not confess will get a heavier sentence than X. However, if both of the prisoners confess and testify against the other, then the police have enough evidence to convict both prisoners for a slightly heavier sentence than X. Since neither of these prisoners knows what the other one is saying, we can use a decision tree to determine the dominant strategy for these people. (See figu!

In this dilemma, the dominant game strategy for the prisoners is to confess. Although the strategy for these games seems very predictable, there is a paradox that arises. The police are also a player in this game. T

This circumstance of including the police in the game seems easily predictable and gives us the impression that the authority does not affect the game significantly. However, if we change the nature of the police, the game is altered greatly. If the police have a non-benevolent attitude, then they are no longer concerned about the status of the prisoners, rather they are concerned about the well-being of the public. In this case, the police may impose a penalty on the prisoners even if they do confess because they will be able to put the prisoners away for a longer time and keep them off the streets, thus preventing more crime. On the other extreme of benevolence is sadism. If the police were a sadistic force, then they would enforce a penalty on the prisoners no matter what the prisoners did. The course of the game would also be greatly altered if the police were not flexible. Not being flexible would allow the police to make a decision on penalizing prisoners before the pris!

If the police are benevolent, they will benefit from the gains of the prisoners, so they will do everything in the best interest of the two prisoners. If the police are flexible, they will make their decision on whether or not to penal

Some common words found in the essay are:
Prisoner's Dilemma, GAME THEORY, dominant strategy, prisoners confess, penalize prisoners, prisoners dominant strategy, prisoners dominant, benefit gains prisoners, benevolent benefit gains, dominant strategy confessing, strategy prisoners confess, benevolent benefit, outcome game, actions authority, strategy prisoners, heavier sentence, police evidence,

Approximate Word count = 820
Approximate Pages = 3 (250 words per page double spaced)

Category: Politics

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