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Plan for Today: Neoliberal Institutionalism. Understanding structure and expected outcomes in Prisoner’s Dilemma game. Brainstorm possible modifications to lead to more cooperation in PD game. Neoliberal Institutionalism An Exemplary Game: The Prisoner’s Dilemma.

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plan for today neoliberal institutionalism
Plan for Today:Neoliberal Institutionalism

Understanding structure and expected outcomes in Prisoner’s Dilemma game.

Brainstorm possible modifications to lead to more cooperation in PD game.

neoliberal institutionalism an exemplary game the prisoner s dilemma
Neoliberal InstitutionalismAn Exemplary Game: The Prisoner’s Dilemma
  • Shows how suboptimal outcomes can happen when each individual acts in own self-interest.
  • Illustration of imperfect outcomes in situations of uncertainty and incomplete information (e.g. international anarchy).
    • Then show ways situations can be mitigated by modifying conditions of the game.
neoliberal institutionalism an exemplary game the prisoner s dilemma3
Neoliberal InstitutionalismAn Exemplary Game: The Prisoner’s Dilemma
  • Conditions:
    • In simplest form, involves 2 players.
    • Each player self-interested, self-reliant utility-maximizer.
    • Only one move for each player, simultaneously.
    • Players cannot consult each other for information or seek outside help.
outcome of prisoner s dilemma
Outcome of Prisoner’s Dilemma
  • Rational players would choose to defect to avoid worst outcome.
  • Dominant strategy therefore suboptimal: both could gain more by cooperating.
  • Each actor pursuing own self-interests leads to undesirable outcome for all.
small group discussion
Small Group Discussion
  • Think as a group of 2-3 ideas of modifications to the PD game that might lead to greater cooperation. (5 minutes)
  • But still keep:
    • Actors as selfish utility-maximizers.
    • Players simultaneously deciding, so each can’t know what other will choose.
    • Payoff values for each possible outcome.
  • Leader report group proposals to class.