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>>>So it show that we are not completely rational and selfish here. Does it? Accepting $1 might be a good strategy if this game only ever comes up once and no
by patmcc 4y ago
>>>So it show that we are not completely rational and selfish here.
Does it? Accepting $1 might be a good strategy if this game only ever comes up once and no one can learn from it, but that's not the world we live in. If all the "second players" in the world don't accept anything below 30%, guess what, we end up much better off in the long run.
- bsenftner 4y agoYou omit the rational knowledge of knowing the other party will receive more than you, or nothing if you do not participate. The rational action is to hold out for a larger split, with the limit of that being you receive the majority.
- jewelry 4y agoNo. The politicians benefit from the majority of people hating who acted, and punish those were lucky enough to have the talent to use money more efficient, and in turn the common wellness dropped because of the overall efficiency dropped.