Okay, so today at the university I volunteered to be a part of this really cool (I think) experiment. Here is how it goes:
The student doing the experiment got two students, me and another guy, into a room. We were to sit down, separated by a cardboard separator so we could not see what the other one was doing. Now here is what was to be done:
Each of us automatically wins 5 shekels (national Israeli coin, also known as NIS for "New Israeli Shekel"). Now, aside from that, we're going to gamble for even MORE free money. The exprimentor is to throw a die, one with 4 sides (triangular shaped), and each of us, independently, should circle our option, from 1 to 4, on a piece of paper. If one of us, or both of us, wins, the winner/s get 8 additional NIS.
Now here's the kicker: If one of us chooses to pay one shekel (remember, we already got 5 for free) the gambling reward is automatically raised to 16 NIS. But I can't know if the other guy pays and he can't know if I do. Now, think about it. It's the prisoner's dillemma. See, I'm thinking "hey, it's just one shekel, and it'll double the prize money!" But then I'm thinking "what if the other guy is thinking the same thing and will pay?" But then again... "what if he's thinking what I think and WON'T pay?" And on, and on. So I decide to do the following: I will do yet another gamble of my own. I will look at my watch, and if the minutes are even, I will pay. if the minutes are odd, I will not pay. It was 11:03am. I wanted to pay, but went with my decision. I did not pay.
I circled 1 on the 1-4 ballot. I marked "not paying" in the payment ballot.
The other guy chose to pay. So the prize money was raised to 16 NIS. The experimentor rolled the die. He got 4. We both lost. I got out of there 5 shekels richer. The other guy got out of there 4 shekels richer. He seemed to be somewhat annoyed or not caring. One of these cynical guys that every other moment gives you the vibe of "WHATEVER!" because he's so above everything. But I actually enjoyed. Forget the money. 5 shekels can get you a coke can these days. But it was just fun to play these mind games. Hey, that's why we're all here in tengaged, isn't it?
Thanks. Now there are more people minusing it. Everyone, why don't you TELL me why you do that. Did I ever go into your blog and neg you there? Tell me why you do that.
