Game Theory 101: Commitment Problems
Game Theory 101: The Complete Textbook on Amazon: http://www.amazon.com/gp/product/B005L7ANWC/ref=as_li_ss_tl?ie=UTF8&camp=1789&creative=390957&creativeASIN=B005L7ANWC&linkCode=as2&tag=gamthe101-20It's a hot day. A police officer pulls you over and asks to search your vehicle. If you refuse, he can call a K-9 unit in to sniff around. It will take the K-9 a half hour to arrive. "Just let me conduct a quick search of your vehicle. It will be better for both of us," the officer tells you.Should you wait for the dog or give the officer permission to search?I actually faced this situation in real life. If you want to learn more about it--and how commitment problems relate to civil war--check out this lecture: http://www.youtube.com/watch?v=xOEvRzolBsE
Length:
06:06
