Game Theory Contest Results

Hi Everyone,

Welcome to the Game Theory Contest results post. This is the sixth economics contest for 2023. Unlike most other contest results posts, this one does not contain a video generating results. The results are determined purely by the actions of the participants.

What is the Game Theory Contest?

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For the benefit of those who did not enter this contest, here is a brief explanation of how the game works.

Participants are to choose 4 out of 7 boxes. Each box is assigned a value. The value of the box is equally shared amongst the participants who selected it (e.g. if a box has a value of 30 and 6 participants select that box, each participant obtains a value of 5). The sum of the values of the selected boxes, after being adjusted for sharing, will be the participant's score.

This contest has several win conditions. These conditions are as follows:

1. The participant who obtains the highest value wins the contest if no other participants obtain that same value.
2. If more than one participant shares the highest value, the participant with the lowest value wins if no other participants obtain that same value.
3. If more than one participant shares the highest value and if more than one participant shares the lowest value, the first and second participants to enter the contest will be joint winners of the contest and will share the prize equally. This will occur regardless of the value they obtained from the boxes.

Responses to the contest are made in the comments section of the contest post. The account with the winning entry will receive 30 Hive Power. In addition to the winning prize, the first 12 entries are given upvotes.

The format of the required entry is explained in detail in the contest itself.

For a more detailed explanation, you can access the contest post using the following link.

Results of Game Theory Contest

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Table 1 contains the selections made by all the participants for this contest, the values of each box after sharing, each participant’s score, and the winner of the contest.

Table 1: Results of the Contest

The winner of the contest is @fatherfaith. @fatherfaith won by achieving the outright highest score of 17.14. @fatherfaith wins 30 Hive Power

I would alos like to thank @emeka4, @micheal87, @crrdlx, @bereal47, @joshsticks28, @faruq10, @seki1, @biyimi, @cindy911, @shakavon,@voidd, @brando28, @justinpencilz, and @adedayoolumide for participating.

Contest Tips and Analysis

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There are many ways of approaching this contest. It is difficult, as we cannot control the behaviour of other participants. Entering later enables a participant to observe many of the other participant’s actions. However, it is possible that a winning strategy will not be available for a participant entering late. In the case of this contest, a new final participant could not have made a late entry and won.

@fatherfaith selected the three boxes with the highest value and a fourth box with the fifth highest value. Another player could have selected the box with the fourth highest value prior to selection but the new average would have reduced the value of that box so that it would have obtained the sixth highest value. At the end of the game, Box 4 had a value of 3.5 (28/8). After another selection, it would have had a value of 3.11 (28/9). This is lower than Box 5 (selected by @fatherfaith) which had a value of 3.45.

Unless participating second, entering the same combination of boxes as another participant is a strategy that guarantees defeat. Yet, a couple of participants entered the same box combinations as previous participants. Even if there is currently not a winning combination available, late entering participants could alter the box values so that the combination entered by an earlier participant becomes a winning one. Entering the same boxes as another participant also blocks that other participant from winning. Please pay close attention to the boxes selected by those who have already entered.

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More posts

I have several collection of posts. I have organised these collections based on content and purpose.

The first collection contains six collection posts created before PeakD had the collection feature. Four of these posts relate to the core of my content, one of them contains all my Actifit Posts, and one of the them contains my video course ‘Economics is Everyone’.

The second collection consists of the posts that I consider define my channel. These posts are significant in terms of content as well as how they contribute to the growth of the channel. These posts reveal the most about what I believe in.

The third and fourth collection is what I call my ‘Freedom-base Economics living book’. They contain all the posts that support my ideas about the value and power of freedom. Some of these posts explain what we can achieve with freedom and what we need to utilise it. Some of them explain how we are deprived of freedom and how we often give up freedom for security and comfort. The third collection concludes with possible scenarios depending on what we (society) choose to do.

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