Rock Paper Scissors
- 164 Downloads
Rock Paper Scissors is used to resolve conflict when a compromise is not possible. Individuals playing ``games'' tend to have biases they prefer to play. I show that Rock Paper Scissors with biased players results in a player with a high valuation for winning being victorious with a probability greater than a player with a low valuation. Thus, it frequently achieves the efficient outcome. Furthermore, as the benefit to victory increases for all players, victory for each player becomes equally likely. Therefore, it is often efficient for minor conflicts while it performs no better than a coin-flip for major conflicts.
Keywordsbias conflict resolution Rock Paper Scissors
JEL ClassificationsD74 D61
Unable to display preview. Download preview PDF.
- Liptak, A. (2006): “Lawyers Won't End Squabble, So Judge Turns to Child's Play.” New York Times (June 9) A19.Google Scholar
- Medina, J. (2005): “Irvington Mayor Pulls 6th Term Out of a Bag.” New York Times (October 28) B4.Google Scholar
- Vogel, C. (2005): “Rock, Paper, Payoff: Child's Play Wins Auction House an Art Sale.” New York Times (April 29): A1.Google Scholar
- Walker G. and Walker D. (2004). The Official Strategy Guide to Rock Paper Scissors. Fireside, New York Google Scholar