http://mindyourdecisions.com/blog/2010/03/09/how-las-vegas-casinos-use-the-prisoners-dilemma-to-make-money/ Articles on game theory and personal finance Tue, 07 Sep 2010 05:43:49 -0400 hourly 1 http://wordpress.org/?v=3.0.1 http://mindyourdecisions.com/blog/2010/03/09/how-las-vegas-casinos-use-the-prisoners-dilemma-to-make-money/comment-page-1/#comment-7226 Game theory in Jersey Shore product placement - Mind Your Decisions Mon, 23 Aug 2010 05:03:34 +0000 http://mindyourdecisions.com/blog/?p=2058#comment-7226 [...] On closer analysis, the game is not good for the companies. The brand war is a type of Prisoner’s dilemma. [...] [...] On closer analysis, the game is not good for the companies. The brand war is a type of Prisoner’s dilemma. [...]

]]> http://mindyourdecisions.com/blog/2010/03/09/how-las-vegas-casinos-use-the-prisoners-dilemma-to-make-money/comment-page-1/#comment-7065 Dilbert Prisoner’s Dilemma – Youtube video - Mind Your Decisions Tue, 20 Jul 2010 05:04:20 +0000 http://mindyourdecisions.com/blog/?p=2058#comment-7065 [...] and his friends find themselves in a three-way Prisoner’s Dilemma. See how it turns [...] [...] and his friends find themselves in a three-way Prisoner’s Dilemma. See how it turns [...]

]]> http://mindyourdecisions.com/blog/2010/03/09/how-las-vegas-casinos-use-the-prisoners-dilemma-to-make-money/comment-page-1/#comment-6563 Bill Clinton talks game theory - Mind Your Decisions Tue, 11 May 2010 05:03:04 +0000 http://mindyourdecisions.com/blog/?p=2058#comment-6563 [...] one side can win and other other can lose, the classic example being the dominant strategy of the Prisoner’s dilemma. A non-zero sum game is one where the total payoffs are either positive or negative–there is [...] [...] one side can win and other other can lose, the classic example being the dominant strategy of the Prisoner’s dilemma. A non-zero sum game is one where the total payoffs are either positive or negative–there is [...]

]]> http://mindyourdecisions.com/blog/2010/03/09/how-las-vegas-casinos-use-the-prisoners-dilemma-to-make-money/comment-page-1/#comment-6404 Two Instructive Ways to Frame the Prisoners’ Dilemma « Cheap Talk Tue, 16 Mar 2010 18:55:46 +0000 http://mindyourdecisions.com/blog/?p=2058#comment-6404 [...] second from Presh Talwalker: My friend Jamie is a professional poker player, and he came across a great example along the lines [...] [...] second from Presh Talwalker: My friend Jamie is a professional poker player, and he came across a great example along the lines [...]

]]> http://mindyourdecisions.com/blog/2010/03/09/how-las-vegas-casinos-use-the-prisoners-dilemma-to-make-money/comment-page-1/#comment-6388 Adam Sun, 14 Mar 2010 07:15:38 +0000 http://mindyourdecisions.com/blog/?p=2058#comment-6388 Great post. That's such a devious tactic. I kinda like it. 1) Same extra odds without increased reward. Your last post about the office pool sort of applies here except it seems like buying extra in the new scenario imparts a less increased odds of winning. 2) Players would have to trust each other and collaborate. 3)Hopefully there would be enough observant or repeat players to notice that everyone's buying in extra and not getting an advantage. 4)Chaos? Great post. That’s such a devious tactic. I kinda like it.
1) Same extra odds without increased reward. Your last post about the office pool sort of applies here except it seems like buying extra in the new scenario imparts a less increased odds of winning.
2) Players would have to trust each other and collaborate.
3)Hopefully there would be enough observant or repeat players to notice that everyone’s buying in extra and not getting an advantage.
4)Chaos?

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