Economic Games

Economics Games Below are listed links to a variety of games used by both economists and neuroscientists to test a primary assumption – that people will act rationally, in the service of their self-interest. It turns out that in a lot of the experiments that have been conducted, exactly the reverse is true. There is a great deal of work which has been done with many variations of the games described below. Of particular interest is the Free Rider problem, the individual who invariably uses more than his share of resources. In a thoughtful Wikipedia article, the contributors discuss the problem of the effects of selfishness as it impacts on the common good.

Let the Games Begin Prisoner's dilemma

Real Life Examples – The most common game we all play at one time or another. Should be played for multiple rounds, with total rounds determined by referee

Traveler's dilemma

Sometimes, irrationality has benefits!

Coordination game

Cooperation of competitors

Chicken

Description – Win, “Chicken out,” or Die. Also, best played as a multi-round game, giving the players the opportunity to “psyc out” each other. Again, referee determines total number of rounds to end of a game.

Volunteer's dilemma

Risky altruism at work

Dollar auction

A Lesson in Conflict Escalation

Stag hunt

A story that became a game – Multi Player

Matching pennies

A 2 person Zero Sum Game

Ultimatum game

Better something than nothing!

Pirate game

Multiplayer – If you are wrong, you get thrown overboard!

Public Goods Game

Multiplayer extension of Prisoner’s Dilemma – Try this with some friends and see what happens.

Blotto games

Number Matching 2 Person

Cake cutting

Fair Division Algorithms

Diner's dilemma

N Person Prisoners’ Dilemma

Guess 2/3 of the average

3+ Person Number Guessing

Kuhn poker

2 Person simplified poker game – Just three cards

Nash bargaining game

Tests players attempts to receive “justice” A Variation on the Ultimatum Game

Screening game

Information Exchange game 2 Player Ambiguous Typical employer/Employee Conflict

Trust game

2 Person “Investment Return” Will you trust the other guy to give you a Return on Investment?