Friday, October 15, 2010

Ritetemp Instructions 6036

The market makes it bad? Death of Maurice Allais

We will play two sets of individuals. The first game is called "Game of the financial market" and the second "Game Community. "These two games are absolutely identical: they are prisoner's dilemmas , famous game in which players must try to cooperate as they have very strong incentives not to do so.

If
games are identical, one would expect to see identical behavior among players. Yet, when they play the game of "financial market", players work much less than when they play the "game community." Is Does the mere mention of the contract or finance sufficient to make people selfish? Hard to say. The study's authors put forward three hypotheses.

1) Individuals who participate in the experiment instinctively try to behave as designers like to experiment. The name of the game gives an indication of the type of behavior is appropriate.

2) players who cooperate only when they think other players will also cooperate. The name of the game may affect the expectations that people have of the behavior of others. It is expected to see less cooperation in the face when the game is called "financial market" and so we responded by cooperating less.

3) Names games value different qualities. Players can choose, by their conduct, to show that they possess the qualities put forward: the ability to cooperate when the game is called "community game", the ability to deceive his opponents when the game is called "game financial market. "

The study is not yet complete and the authors have yet to decide between the three hypotheses. But nothing prevents us from speculating. What do you think?

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