X | Shared With: Everyone - Jun 18 2008 | war, game theory
Quoted: Strategically, the game is an auction, in which the prize goes to the player with the highest bid, and each player pays the loser's low bid (making it an all-pay sealed-bid second-price auction).
- X | Shared With: Everyone - May 23 2007 | game theory, science, brain, puzzles
![The Traveler's Dilemma -- [ GAME THEORY ]: Scientific American](http://i.faves.com/01/be/4c65/c3fe4b3b/67d47d0a790127bf82_5.jpg)
I had never heard of the Travelers dilemma before, but it is an interesting problem.
Quoted: Scenarios of this kind, in which one or more individuals have choices to make and will be rewarded according to those choices, are known as games by the people who study them (game theorists). I crafted this game, "Traveler's Dilemma, in 1994 with several objectives in mind: to contest the narrow view of rational behavior and cognitive processes taken by economists and many political scientists, to challenge the libertarian presumptions of traditional economics and to highlight a logical paradox of rationality.
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