What are some famous game theory experiments?
An example of an AI chatbot conversation about famous game theory experiments.
Can you tell me about some famous game theory experiments?
Sure! One famous experiment is the Prisoner's Dilemma, which explores cooperation and betrayal.
What was the outcome of the Prisoner's Dilemma?
In the classic version, both players often choose to betray each other, leading to a worse outcome for both.
Are there any other notable experiments?
Yes, the Ultimatum Game is another interesting one, where one player proposes a split of a sum of money.
What insights does the Ultimatum Game provide?
It shows how fairness and social norms can influence decision-making, often leading to rejections of unfair offers.
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