In the great British game show, Golden Balls, contestants must decide whether to cooperate with each other or be devious. The dramatic outcome of the game (replicated here) is that one will steal and the other will be honest. This variant of the game has a unique twist to ensure cooperation.
A Beautiful Mind: Ignoring the Blonde
The classic scene from A Beautiful Mind when Nash (Russell Crowe) and his friends are discussing governing dynamics. Nash’s realization is not that of a Nash Equilibrium, but rather the classic view of Adam Smith (everyone doing what’s best for themselves) is harmful compared to if they just work together for the common good. It can be a bit confusing since the Nash Equilibrium is not that people should work together for the great good, but this is still a good introduction to a lesson game theory because it helps introduce why it might be harmful for everyone to only do what’s in their own best interest.
ABC News: Mission Impossible: Lost in New York
12 strangers, divided into pairs must find the other person in New York City with only $100 and no idea who they’re looking for. This simultaneous game gives student a peek into a different type of game compared to what is traditionally taught in a principles course. The idea of common perceptions is that even though we all come from different backgrounds, we tend to focus on the same landmarks when trying to make decisions.
Read the full story from ABC News