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Rock, Paper, Scissors

I enjoyed the piece on Rock, Paper, Scissors (RPS) in today’s AFR (paywalled but it it was featured in the British press a while back). Recall the kid’s game – two parties simultaneously call “Rock”, “Paper” or “Scissors” with the mnemonic “Rock breaks Scissors, Scissors cuts Paper and Paper covers Rock” – so “Rock” beats […]

Man-versus-machine: the case of chess

A fascinating piece on chess computers versus people by Gary Kasparov in The New York Review of Books. With the defeat of humans by compiuters – Kasparov claims that these days Grand Masters would be challenged by many $50 programs – chess is now a new game. Broader issues of strategy matter […]

Ultimatum game with testosterone – hormonal economics

The ultimatum game takes the following form: There is an opportunity for Mr A to share some money, say $100, with Mr B but there is a requirement that B accept the offer that only A can make regarding the division of the $100 – otherwise neither player gets anything.

So if A offers B […]

Traveler’s Dilemma

‘Lucy and Pete, returning from a remote Pacific island, find that the airline has damaged the identical antiques that each had purchased. An airline manager says that he is happy to compensate them but is handicapped by being clueless about the value of these strange objects. Simply asking the travelers for the price is hopeless, […]