Sorry, in advance, if this gets preachy. I've wrestled with these
ideas for 15 years and still haven't really found my voice. Sorry too
for my feeble ascii art skilz.

On Sep 2, 7:32 pm, Natalie Pang <[email protected]> wrote:
> People are playing the prisoner's dilemma - they have no idea what others
> are bidding so they put in bids as high as they could afford in the attempt
> to secure them.

A quibble: The term "prisoners dilemma" has come to be used for all
manner of interactions in which there is either a sucker's payoff or a
failure in communication or just generally where the observer thinks a
suboptimal solution has been reached. But in its inception the
Prisoners' Dilemma was never so wide ranging. If there is iteration,
it's a different game. If there is any possibility of communication,
it's a different game. The Prisoners' Dilemma not only includes a
"sucker's payoff" in the payoff grid, but absolutely precludes
iteration and communication.

Axelrod did a great disservice by not being more precise in his naming
of his tournament. By so doing he popularized a term severed from its
proper meaning and thus muddied an already confusing scenario. Nor is
he alone. In "Two-Person Game Theory" no less a luminary than Rapoport
himself launches into a discussion of a game with a sucker's payoff
but without mention of the initial hypothetical scenario from which
the name of the game is derived (Game 34, Chapter "Nonnegotiable
Games").

Rapoport offers the following grid in Game 34, which he labels, "The
Prisoners Dilemma":


            C2          D2
      __________________
      |              |                |
C1  |    5,5     |     -10,10  |
      |              |                |
      --------------------------------
      |              |                |
D1  |   10, 10  |    -5,-5     |
      |              |                |
      --------------------------------

But the original scenario would look more like this:

                Player A
         Confess   NotConfess
         __________________
P C  |              |                |
l   n  |   -24,-24 |     -240,0  |
a  f   |              |                |
y  s   --------------------------------
e      |              |                |
r   N |   0,-240  |    -6,-6      |
    o  |              |                |
B  t   --------------------------------


It is a conceit of game theory that it treats of mathematics and has
no truck with messy human behavior. To the extent this is true, fine.
But since the primary interest in game theory seems to be the desire
to predict behavior (or at least to evaluate it so we can argue for or
against some given policy) it is only proper to take into account
those qualitative matters which affect human decision making. Playing
for abstract points will trigger different evaluative processes than
playing for jail time. But even when playing simply for abstract
points, point maximization criteria can yield different choices than,
say, point difference maximization (that is, it is possible, depending
on the payoff grid, to maximize one's points but lose overall,
likewise to win by accepting fewer points because in so doing one has
limited the opponent even more.)

Even more damning in Axelrod's work is that, as others before him, he
attaches labels to the moves which strongly prejudice in favor of a
given result, and this act of labeling is a prime source of confusion
about the game in its various forms. Where Axelrod and others use the
labels, "Cooperate" and "Defect", the original uses "Confess" and
"NotConfess", and in so doing raises an emotional bias against the
option of NotConfessing. Some discussions of the game bring a
paradoxical feeling that one does best by going against one's
interest, or, put in the converse, pursuing one's interests is against
one's interest, but this is primarily an epiphenomenon of using wildly
emotive terms like cooperate and defect. Worse still, using Axelrod's
work, simply by holding the payoff grids stable but changing the
labels one could as easily write a book called, "The Evolution of
Defection", or "...of Corporate Malfeasance".

Notwithstanding the above failings, which are found in most
discussions, there is another major flaw in every single analysis I
have seen: Inapt Visualization. Use of a grid in the accepted manner
leads to an illusion of interdependence which is wholly lacking in the
actual game as envisioned by Tucker and from which the name of the
game derives. A better visual model might be:

      Prisoner A
      |             |
Confess   NotConfess
 |        |       |         |
 0    -24     -6     -240

The prisoner is alone in a cell. If she confesses she will either
serve no time or serve two years. THERE IS NO WAY TO PREDICT OR
INFLUENCE WHICH RESULT OBTAINS. If she does not confess, she will
either serve six months or twenty years, again, with no means by which
she can predict or influence which result obtains. Efforts to predict
yield an infinite progression of "He'll think that I think that he
thinks that I think..." The prisoner might as well be tossing coins.
The only real choice in the matter is which of two coins the prisoner
will choose to toss. But the grid visualization makes this very hard
to see, instead promoting that infinite progression of "he'll think I
think he thinks..."

Price wars may (or may not) be the result of failure to rationally
achieve and optimal result, but they bear little resemblance to the
Prisoners' Dilemma.

> While this may not be purely a case of a wrong game (since the perception of
> COEs is that they're scarce, and in reality it is based on how many the
> government wishes to release into the market), I wonder if there is a certain
> critical threshold by which it becomes a wrong game.

Something this does remind me of is governmentally created false
scarcities in intellectual property usage rights. Given modern
technology it is child's play to create an effectively limitless
supply of electronic copies of various cultural artifacts,
distribution of these artifacts is similarly simple and robust. Where
supply approaches infinity, one would reasonably expect costs to go
towards zero. However, in the U.S. copyright and patent law prohibit
unauthorized duplication, creating a false scarcity, and propping up
prices for an industry desperate to stave off the clear course of
history. To my eye that is very much a "wrong game".

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