In addition to receiving a description of the payoff function (Equation 1), individuals were also given a payoff table
indicating their payoff for each level of private contribution and a level of aggregate contributions by others.
The payoff table
for each game you play will be shown on your computer screen.
Table 1 Win-Lose Table A B C D E Total units Proportion Proportion Proportion Proportion (coins) of Players of Players of Players of who staked in a who who who experience single play experience experience experience less than session ** better than between 80 between 60 60 per cent 100 per & 100 & 80 per return of cent return percent cent return total of total return of of total amount amount total amount staked staked amount staked staked 2000 29% 46% 22% 3% 3000 25% 54% 20% 1% 4000 22% 61% 17% 0% 5000 19% 66% 15% 0% 6000 17% 71% 12% 0% 8000 14% 77% 9% 0% 10000 11% 82% 7% 0% ** Assumes all games played on a single line with one coin staked per game Table 2 Payoff Table
for "Red, White & Blue" Slot Machine Win Pays Combinations Probability Red 7, white 7.
In my previous column (Jan/Feb 2005, The Physician Executive), I discussed the use of the payoff table
as a tool to assist in making rational choices when faced with this uncertainty.
A built-in payoff table
sets the amount a player gets for a given winning combination.
In the past, payoff table
changes -- required sometimes by regulators and by Sigma's casino customers -- involved recoding in Assembler Language, and burning a new eprom chip.
Each party's payoff table
has roughly 200 possible combinations of X and Y over which he or she can bargain.
13) A payoff table
containing the first part of their payoff and the amount of output that will result from their choice is displayed on the screen.
This may be represented in a payoff table
, which provides one of the simple and fundamental techniques of decision making under uncertainty.
70 Payoff Table
A Median value of X chosen 1 2 3 4 5 6 7 Player's 7 2.
The decision maker is given a payoff table
(see Table 1) that shows how different allocations generate different outcomes for the beneficiaries, and the decision maker knows that these outcomes are used to determine the experimental cash payoff for the beneficiaries.
Instructions and the payoff table
are provided on the lead author's Web site: http://www.