[tt] [FoRK] The Traveler's Dilemma

[Eugen Leitl]

----- Forwarded message from Russell Turpin <deafbox at hotmail.com> -----

From: Russell Turpin <deafbox at hotmail.com>
Date: Wed, 23 May 2007 23:36:26 +0000
To: fork at xent.com
Subject: Re: [FoRK] The Traveler's Dilemma
Reply-To: Friends of Rohit Khare <fork at xent.com>

The logic does assume each player is trying to maximize his own payout.
The problem is more that it assumes a series of maximizing steps must
present the maximal solution. Thus, $99 is a better play than $100, and
likely is in reality, since most people will write down a $100, and
your payoff thus is $101. But then begins the recursion down to $2. And
that doesn't work. In this regard, this hole in game theory seems
related to the paradox of the unexpected hanging:

http://en.wikipedia.org/wiki/Unexpected_hanging_paradox

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