Classroom Games: A Prisoner's Dilemma
AbstractGame theory is often introduced in undergraduate courses in the context of a prisoner's dilemma paradigm, which illustrates the conflict between social incentives to cooperate and private incentives to defect. We present a very simple card game that efficiently involves a large number of students in a prisoner's dilemma. The extent of cooperation is affected by the payoff incentives and by the nature of repeated interaction. The exercise can be used to stimulate a discussion of a wide range of topics such as bankruptcy, quality standards, or price competition.
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Bibliographic InfoPaper provided by University of Virginia, Department of Economics in its series Virginia Economics Online Papers with number 330.
Length: 12 pages
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prisoner's dilemma; game theory; experimental economics; classroom experiments;
Other versions of this item:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2000-02-21 (All new papers)
- NEP-CDM-2000-02-21 (Collective Decision-Making)
- NEP-EVO-2000-02-21 (Evolutionary Economics)
- NEP-EXP-2000-02-21 (Experimental Economics)
- NEP-GTH-2000-02-21 (Game Theory)
- NEP-IND-2000-02-21 (Industrial Organization)
- NEP-PUB-2000-02-21 (Public Finance)
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