Of course, by changing the payoff matrix, Nick also changed the game, so after him putting in some more of his stakes, it wasn’t Golden Balls / PD anymore but a game which had the structure Nick favoured. What is to be learned from this article is how to design games to your own profit—whether you are watching from the outside or playing from the inside.
Apparently I didn’t quite understand what you wanted to tell me—I’m sorry! Yes, as an introduction to game theory, this indeed is a problem. Example #6 is a bit out of place for that, as game theory here didn’t work in practice in the sense that it didn’t make accurate predictions.
Of course, by changing the payoff matrix, Nick also changed the game, so after him putting in some more of his stakes, it wasn’t Golden Balls / PD anymore but a game which had the structure Nick favoured. What is to be learned from this article is how to design games to your own profit—whether you are watching from the outside or playing from the inside.
Apparently I didn’t quite understand what you wanted to tell me—I’m sorry! Yes, as an introduction to game theory, this indeed is a problem. Example #6 is a bit out of place for that, as game theory here didn’t work in practice in the sense that it didn’t make accurate predictions.