Difference between revisions of "UltimatumGame"

Google:UltimatumGame

Another insight from the book "The Wisdom of Crowds" by the author James Surowiecky comes from the empirical tested outcomes of this game, "... perhaps the most-well-known experiment in behavioral economics" .

In this game there are two players, the proposer p and the responder r and an amount of sharable money m, say m=10$, that can only be gained, if p and r come to an agreement.

The proposer p now can offer an abitrary split of the money m=mp+mr, with 02 players p1,..,pn, where the playing team is open to new members (Open Invitation To Participate)

• iterated rounds
• multiple projects, where everyone can be a proposer, based on their initial buy of a domain to share, setting up a new m to share
• dynamical money pool m that increases in value by transparent and interacting communication of the partners and interested third parties (MarketsAreConversations)

Application

To apply this basic insight to SocialDomaining as ExtremeOpenBusiness, here are some additional considerations:

• m can be seen as the additional money, that can be gained by synergic actions, e.g. p1,..,pn increasing the
  • conceptional value of a shared domain for the targeted buyer(s)
  • page rank of Google, and at the same time
  • building a network of demonstratable mutual trust by open transactions.

Invitation to Conversation and participation

FridemarPache: Yes, this is a real economic game with real money and real business oportunities, all transactions made visible and open.

Amplify

[Meatball:UltimatumGame]