Centipede Game Todd Kaplan. Centipede Game Rosenthal (1981), What has the highest payoffs? What is the subgame-perfect equilibrium?

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Presentation transcript:

Centipede Game Todd Kaplan

Centipede Game Rosenthal (1981), What has the highest payoffs? What is the subgame-perfect equilibrium?

Self-Interest Hurts Binmore (2005) exchange of goods between parties that distrust each other. Mating behavior of an hermaphroditic sea bass which take turns exchanging eggs to fertilize.

Outcomes People tend to continue farther than one would think. Perhaps some players are altruistic. – Best to continue then. Perhaps some players are irrational. – Best to be irrational as well. Palacios-Huerta and Volij (2009) chess players play stop earlier the higher their rating (and that of their opponents). All Grandmasters in the experiment stopped at their first chance.