2008/06/12

Lets play a game

I had played a game in class yesterday which i thought was pretty interesting to share with everyone and see how you guys will play it.

The game consists of 3 rounds. You have to make a decision at the end of each round before you knowing the scenario in the following round.


The story
You have a sum of money which you can choose to give away. Every $1 you give, the recipient get 3 times. So if you give $10, the recipient gets $30. The recipient then has a choice to give you back any amount that he receive, including the option of giving back nothing.

For 3 rounds, there will be different recipients and you don't know how much you are getting back till the end of the 3 rounds. Both parties know about the rules above and the sum of money that you have.


Round 1:
You have $100 as your pool of money. How much would you give? Decide first before scrolling down.









Round 2:
You have $100,000 as your pool of money. How much would you give? Decide first before scrolling down.









Round 3:
You have $1,000,000 as your pool of money. How much would you give?

I had chosen to give 100% of my money. Of course one might say that in real life no one will do that. However the reason for choosing to give 100% is that ideally I believe that it is the best case because i believe that people will reciprocate.

Imagine my shock when some of the participant say that they will give zero because they feel that if they were the recipients, they will give back zero!

I am not sure it is because it is different cultures, different experience or simply because i am naive. Anyway i will share the findings next week on the outcome of this game as well as research findings on this game played with real money when it become available.

So stay tuned and at the meantime share with me how you would play this game.

Pitstop Cafe, be part of the fun!
astro

4 comments:

Feldman said...

50, 29000, 210000. My favourite numbers.

yikb0on said...

10, 10000, 100000. cos they're strangers. if they were people i know, the amount would differ depending on his/her personality

Alfie said...

I'll give 100% too not because I believe people will reciprocate, but because I'm also considering the satisfaction gained from giving.
By giving 100%, I gain back 100% satisfaction because I know I have done my best to help that person. So in a way, I have exchanged my physical asset (money) with spiritual asset (satisfaction), i.e. no loss at all

cpr said...

$33.33;$50,000;$0 (CPR)

$50; $20,000; $100,000 (Victor)

Help us analyze, haha...

 
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