View Poll Results: What is your proposal?

Voters
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  • $100 to me, $0 to player B

    4 7.02%
  • $99 to me, $1 to player B

    3 5.26%
  • $90 to me, $10 to player B

    1 1.75%
  • $80 to me, $20 to player B

    1 1.75%
  • $70 to me, $30 to player B

    2 3.51%
  • $60 to me, $40 to player B

    7 12.28%
  • $50 to me, $50 to player B

    36 63.16%
  • $40 to me, $60 to player B

    3 5.26%
  • $30 to me, $70 to player B

    0 0%
  • $20 or less to me, $80 or more to player B

    0 0%
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Thread: Hypothetical: $100 Game

  1. #1
    Professor

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    Hypothetical: $100 Game

    You agree with another person to play a game where one of you could win up to $100. Before you play you learn the rules. The rules are:

    The game begins with a coin toss

    The coin toss decides each players roles of either player A or B

    Player A proposes the division of the $100.

    Player B then decides whether to agree or not to the proposal

    If player B agrees, the two players get the agreed upon amount. if player B disagrees, neither player recieves anything.

    If you are player A what would be your proposal?

    Please choose which you feel is the best response, since I cannot include 101 options

    This was from Greg Mankiws textbook microeconomics, but I was interested for myself what people thought.

    Edit: In this game each player is a volunteer, its not their money to begin with so they just decide how it is split up.
    Last edited by drz-400; 06-14-10 at 02:45 AM.

  2. #2
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    Re: Hypothetical: $100 Game

    Where does the $100 come from?

    I'd split $50/$50, but I still want to know where the money is from.
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    Re: Hypothetical: $100 Game

    Just off-hand, I feel like $70 is a good number for maximizing total expected return.
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    Re: Hypothetical: $100 Game

    Quote Originally Posted by roguenuke View Post
    Where does the $100 come from?

    I'd split $50/$50, but I still want to know where the money is from.
    For this poll lets say you are volunteers so its not either players money.

    Yes, it would be the greatest game on the planet.
    Last edited by drz-400; 06-14-10 at 02:43 AM.

  5. #5
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    Re: Hypothetical: $100 Game

    If we are dealing in pure economics, then $99 to me and $1 to player B is the correct answer: both people turn out ahead and I, having the control would want to maximize my take. However, if we bring human psychology into it, it would depend on the personalities of the players. Probably a $50/$50 split would work most often.
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  6. #6
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    Re: Hypothetical: $100 Game

    I'd chose a sure $50 over risking them screwing you of out spite for not splitting the money. You might be able to get more, but that is highly dependent on the culture and wealth of the other player.

  7. #7
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    Re: Hypothetical: $100 Game

    The greatest probability of mutual agreement would most likely come from a 50/50 split.
    Potentially working with a 60/40 or 70/30 split in my favor but for the sake of quick agreement 50/50 works out best.
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    Re: Hypothetical: $100 Game

    Traditional "efficient market" economics will tell you to split it $99/$1 in your favor...but in practice that doesn't work because people are NOT rational actors, and are more than willing to waste their own money in order to screw you over. If I'm not allowed to know anything about the other person ahead of time, such as their nationality/culture/gender, then I would probably split it about $50/$50. But if I know that the experimenter is pulling other people from, say, the United States, then I'm much more likely to split it about $65/$35 in my favor.
    Last edited by Kandahar; 06-14-10 at 04:04 AM.
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  9. #9
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    Re: Hypothetical: $100 Game

    50/50 is more than fair.

    Of course if B refuses, I kick him in the nuts. If I am B and A offers less, I kick him in the nuts.

    So in conclusion if I get nothing, someone gets kicked in the nuts.
    Last edited by Black Dog; 06-14-10 at 04:13 AM.
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  10. #10
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    Re: Hypothetical: $100 Game

    Quote Originally Posted by CaptainCourtesy View Post
    If we are dealing in pure economics, then $99 to me and $1 to player B is the correct answer: both people turn out ahead and I, having the control would want to maximize my take. However, if we bring human psychology into it, it would depend on the personalities of the players. Probably a $50/$50 split would work most often.
    Quote Originally Posted by Kandahar View Post
    Traditional "efficient market" economics will tell you to split it $99/$1 in your favor...but in practice that doesn't work because people are NOT rational actors, and are more than willing to waste their own money in order to screw you over. If I'm not allowed to know anything about the other person ahead of time, such as their nationality/culture/gender, then I would probably split it about $50/$50. But if I know that the experimenter is pulling other people from, say, the United States, then I'm much more likely to split it about $65/$35 in my favor.
    Both of your rational greatly confuses me.

    Economics has to account for psychology otherwise, you remove the key ingredient of what economics is about.
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