Please watch the following lectures presented by Dr. Scott P. Stevens of James Madison University.
Lecture 16: Does This Stuff Really Work?
Lecture 17: The Tragedy of the Commons
Lecture 18: Games in Motion—Evolutionary Game Theory
Answer the following question:
Two lanes of traffic are narrowing to one because of an accident on the road ahead. The drivers of 10 cars have ignored your turn signal and refused to allow you to merge into the single lane available. Finally, someone lets you into the lane. Does this history change your decision on letting other drivers into the single lane? Why? Is your behavior rational? Which game theory concepts relate to this situation?
Sample Solution