Comment author:ajayjetti
30 July 2009 11:47:45PM
1 point
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so rationality doesn't always mean "win-win" ? In a chicken situation, the best thing for "both" the persons is to remain alive, which can be done by one of them (or both) "swerving", right? There is a good chance that one of them is called chicken.
Comment author:Linch
31 January 2014 07:23:31PM
0 points
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Hi! First post here. You might be interested in knowing that not only is the broken radio example isomorphic to "Chicken," but there's a real-life solution to the Chicken game that is very close to "destroying your receiver." That is, you can set up a "committment" that you will, in fact, not swerve. Of course, standard game theory tells us that this is not a credible threat (since dying is bad). Thus, you must make your commitment binding, eg., by ripping out the steering wheel.
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so rationality doesn't always mean "win-win" ? In a chicken situation, the best thing for "both" the persons is to remain alive, which can be done by one of them (or both) "swerving", right? There is a good chance that one of them is called chicken.
Hi! First post here. You might be interested in knowing that not only is the broken radio example isomorphic to "Chicken," but there's a real-life solution to the Chicken game that is very close to "destroying your receiver." That is, you can set up a "committment" that you will, in fact, not swerve. Of course, standard game theory tells us that this is not a credible threat (since dying is bad). Thus, you must make your commitment binding, eg., by ripping out the steering wheel.