1] It is game theory, not gaming theory. Unless that was supposed to be a clever pun.
2] Any punishment strategy, 'grim' or not, is irrelevant if you cannot detect cheaters. Who are you punishing then, and for what?
3] In a prisoner's dilemma game, saying to the other captured criminals "hey, guys, we'd all be better off not saying anything" does not constitute a solution to the prisoner's dilemma. Everyone realizes that but cannot resist the temptation to talk, or hit an opening line. This is a question asked on every introductory game theory exam, and you would get a zero.
4] There are tons of games where there are N > 1 players and they are all looking at some valuable resource which grows over time. They are all better off if they wait until it grows to a nice sum and then split it. But the equilibrium is everyone races to be the first to take the small resource ASAP. This is a common problem in fisheries and the fishermen even know each other as well as who is "cheating".
Lawyers are the worst at sticking their grimy hands into other fields they know nothing about. You don't see chemists trying to write poetry or poets trying to do chemistry. But this is not an attack on you, Justin, since you are not a lawyer.
2] Any punishment strategy, 'grim' or not, is irrelevant if you cannot detect cheaters. Who are you punishing then, and for what?
3] In a prisoner's dilemma game, saying to the other captured criminals "hey, guys, we'd all be better off not saying anything" does not constitute a solution to the prisoner's dilemma. Everyone realizes that but cannot resist the temptation to talk, or hit an opening line. This is a question asked on every introductory game theory exam, and you would get a zero.
4] There are tons of games where there are N > 1 players and they are all looking at some valuable resource which grows over time. They are all better off if they wait until it grows to a nice sum and then split it. But the equilibrium is everyone races to be the first to take the small resource ASAP. This is a common problem in fisheries and the fishermen even know each other as well as who is "cheating".
Lawyers are the worst at sticking their grimy hands into other fields they know nothing about. You don't see chemists trying to write poetry or poets trying to do chemistry. But this is not an attack on you, Justin, since you are not a lawyer.
