DA6-pirates - If at least half of the pirates(including the...

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1 1 Pirates of the Caribbean UGBA 143: Game Theory and Business Decisions 2 The Story A group of five pirates has found a chest filled with 100 gold coins Need to decide how to split it They take turns to propose a motion, specifying how many coins each individual should get Example: Pirate A could propose: “I take all 100 coins.” “Each of the five of us takes 20 coins.” “50 coins each to Pirate B and myself; none to the rest.” (i.e. anything that adds up to 100 coins.) 3 The Story The pirates vote on the motion
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Unformatted text preview: If at least half of the pirates (including the proposer) approve, the motion is passed and the coins shared accordingly Otherwise… 4 The Game Each team plays the role of a single pirate The goal is to get as many coins as possible (teams earn extra credit proportional to the total number of coins over all the game rounds) Two variations: 1. The pirates take turns to propose, according to a fixed, pre-specified order 2. The pirates draw lots to determine who proposes next...
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