bba 360 project 2 team 6

Our Prisoner’s Dilemma:

Our Prisoner’s Dilemma Project Presented By Group 6: Cecil Robtoy Alejandra Robles Hector Mondragon Neenort Khibeir

Slide 2:

Prisoner’s Dilemma Business Dynamics Peer Grading What we are trying to accomplish is to interpret the three terms above and show how they interrelate. OVERVIEW

Prisoner’s Dilemma:

Prisoner’s Dilemma Prisoner’s dilemma is “a paradox in decision analysis in which two individuals acting in their own best interest pursue a course of action that does not result in the ideal outcome.” In simpler words: Self-interest DOMINATES! It was originally designed by Merrill Flood and Melvin Dresher working at RAND (Research and Development) Corporation in 1950.

Prisoner’s Dilemma cont.:

Prisoner’s Dilemma cont. Confess or Don’t Confess? Looking at Figure 1, it describes two prisoners that have 4 different options and with each having different outcomes. Extreme: If Prisoner A confesses and Prisoner B keeps quiet, then Prisoner A goes free and Prisoner B goes to jail for 10 years. Vice versa. Moderate: If both prisoners confess, then they both get sentenced to 5 years. Easiest Way Out: If both prisoners keep quiet, they both get a minimal sentence of 1 year. The moral behind this is because of self-interest, the prisoners will face a longer sentence. Figure 1

Business Dynamics:

Business Dynamics Although there are many interpretations of business dynamics, this is what we believe business dynamics to be: Business Dynamics is the ideology of change in ways of conducting business in present and future conditions. Business Dynamics: Competition Rules of the game/Compliance Discipline Customer Satisfaction

Business dynamics cont.:

Business dynamics cont. For example two competitors in the grocer business: one reduces their prices in order to antagonize the other. The other then reduces their prices as well. This causes lower prices all around to the point of forsaking profits and incurring losses. In the end, both must increase their prices to go back to where they first started.

Peer Grading:

Peer Grading Peer grading incorporates both business dynamics and a prisoner’s dilemma in various ways. It gives the students the opportunity to grade their peers. One may grade each other honestly. Others may just collude with one another and give out the high grade even if some peers did not earn it . Whereas others may simply grade harder just to achieve a higher grade themselves. Some allow their own self-interest to dictate their actions. I’D GET BETTER GRADES, IF ONLY THE OTHER KIDS LIKED ME…

Synopsis:

Synopsis In conclusion prisoner’s dilemma, business dynamics, and peer grading all revolve around their personal self-interest. The decisions of one person always affects the decisions of the other.

Personal Prisoner’s Dilemma food for thought:

Personal Prisoner’s Dilemma food for thought If it is closely analyzed one word could some up Prisoner’s Dilemma “Trust.” What kind of Prisoner’s Dilemma are you in? Who do you trust? Your peers? Your family? Your friends? Prisoner’s dilemma on a moral and human level… ‘I trust you’ is a better compliment than ‘I love you’ because you may not always trust the people you love, but you can always love the people you trust.

references:

references " Prisoner's Dilemma." Wikipedia, the Free Encyclopedia . Web. 16 Feb. 2011. <http://en.wikipedia.org/wiki/Prisoner's_dilemma>. "Prisoner's Dilemma - Benefits." Reference For Business - Encyclopedia of Small Business, Business Biographies, Business Plans, and Encyclopedia of American Industries . Web. 15 Feb. 2011. <http://www.referenceforbusiness.com/ encyclopedia/Per-Pro/Prisoner-s-Dilemma.html>. "Prisoner's Dilemma Definition." Investopedia.com - Your Source For Investing Education . Web. 08 Feb. 2011. <http://www.investopedia.com/terms/p/prisoners-dilemma.asp>.