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Tuesday 22 Aug 2017 | 08:20 | SYDNEY
Tuesday 22 Aug 2017 | 08:20 | SYDNEY

One reason international diplomacy is so hard

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14 October 2013 15:24

During the course of an interview, the behavioural economist Richard Thaler explains findings from the UK game show Golden Balls, which always ends with a prisoner's dilemma game in which the stakes are around £100,000. When compared to data from prisoner's dilemma experiments in the lab, Thaler found that the rate of cooperation reduces as the stakes increase (see the graph above). For those unfamiliar with the prisoner's dilemma, here's a clip from Golden Balls:

(H/t The Browser.)

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