There are 5 pirates that need to divide a treasure of 100 gold pieces:
-All 5 pirates are PERFECTLY RATIONAL and PERFECTLY SELFISH
The way it goes: Pirate 1 will propose a division method, then there will be a vote- a majority vote means the division will be accepted. However a minority vote would mean that pirate 1 would be made to walk the plank and would die. Thus leaving 4 pirates. Then it would come upon Pirate 2 to make a proposal and so on.
A tie in the vote means the vote is passed.
The thing to remember is all pirates are perfectly rational and perfectly selfish.
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There are 5 pirates that need to divide a treasure of 100 gold pieces:
-All 5 pirates are PERFECTLY RATIONAL and PERFECTLY SELFISH
The way it goes: Pirate 1 will propose a division method, then there will be a vote- a majority vote means the division will be accepted. However a minority vote would mean that pirate 1 would be made to walk the plank and would die. Thus leaving 4 pirates. Then it would come upon Pirate 2 to make a proposal and so on.
A tie in the vote means the vote is passed.
The thing to remember is all pirates are perfectly rational and perfectly selfish.
How will the treasure be divided and why?
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