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stephkim's picture

prisoner's dilemma

Although I heard of this experiment before, it was my first time actually playing it.

At first, I clicked cooperate and rarely the other option, but as the game progressed, I saw that I was actually winning money. I then switched over to the compete option and realized that even though serendip was also competing, it didn't matter because I had a significant amount of money: if i clicked compete each time, serendip would either win just 1 coin, or would lose 3 (? i think). It didn't matter if i was also winning 1 because as long as I clicked compete, I would be earning either just 1 coin, or 5.

I was probably fortunate in winning because I had a lead of multiple coins in the beginning of the game.  The first couple choices you make most likely predict that winner because after a while, you realize that it's a win-win situation once you have more than a four coin lead.

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