Timeline for The Two Envelope Game Show
Current License: CC BY-SA 4.0
12 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Dec 2, 2020 at 10:52 | history | edited | Florian F | CC BY-SA 4.0 |
deleted 1 character in body
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| Dec 2, 2020 at 10:12 | history | edited | Florian F | CC BY-SA 4.0 |
added 338 characters in body
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| Dec 1, 2020 at 2:16 | vote | accept | windblade | ||
| Dec 1, 2020 at 2:15 | comment | added | windblade | I'm going to go ahead and mark this as the correct answer. This was my conclusion as well, and this answer concisely explains the logic behind it. I was not quite 100% sure the cascading logic was valid when I wrote the question, but now I'm assured that this is right. | |
| Nov 22, 2020 at 16:31 | comment | added | Florian F | The reasoning assumes both want to maximize their profit. If Jack acts irrationally then we are in the situation that you find in any game, you can depart from the equilibrum strategy in the hope of earning more, but at the risk of it backfiring if your opponent adjusts to it and gains an advantage. | |
| Nov 21, 2020 at 15:30 | comment | added | H Rogers | Jack's decision to not make an offer is rational when he expects Kirby to reject if his envelope is greater and accept if is lesser, but this is not the case in your equilibrium, where Kirby rejects a trade either way when his (K's) envelope is $256. If this is the case, Jack would be indifferent between making an offer and not, since it would be rejected either way, and making an offer would not be a mistake. | |
| Nov 21, 2020 at 14:50 | comment | added | H Rogers | +1 Good Answer, I agree that this is what would happen if both Jack and Kirby are Game Theory Rational agents. However once Kirby sees the $256 in his envelope and receives the offer to swap from Jack, he knows that Jack is not playing rationally. Therefore wouldn't he be rational to accept the offer along his original line of reasoning? Or maybe it would depend on an updated expectation of whats in Jacks envelope that would be impossible to calculate objectively, since Jack is not playing rationally. Hmmm... | |
| Nov 4, 2020 at 22:33 | comment | added | Florian F | I don't thing the unexpected hanging paradox works here because in the last step, when Kirby finds $1, he has every reason to swap but Jack refuses. And he is right. | |
| Nov 4, 2020 at 19:50 | comment | added | Joel Rondeau | And now I feel like I am wrong, so I'm going to +1 but leave my original comment. | |
| Nov 4, 2020 at 19:48 | comment | added | Joel Rondeau | I feel like you've fallen into the unexpected hanging paradox, and that it is only true for two of the values but none of the rest. en.wikipedia.org/wiki/Unexpected_hanging_paradox | |
| Nov 4, 2020 at 16:21 | history | edited | Florian F | CC BY-SA 4.0 |
deleted 7 characters in body
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| Nov 4, 2020 at 16:10 | history | answered | Florian F | CC BY-SA 4.0 |