The public goods game is a standard of experimental economics. In the basic game, subjects secretly choose how many of their private tokens to put into a public pot. The tokens in this pot are multiplied by a factor (>1) and this "public good" payoff is evenly divided among players. Each subject also keeps the tokens they do not contribute.
Read more about Public Goods Game: Results, Multiplication Factor, Implications
Famous quotes containing the words public, goods and/or game:
“O Jesse had a wife, a mourner all her life
And the children they were brave,
But the dirty little coward that shot Mr. Howard
He laid Jesse James in his grave.”
—Administration in the State of Miss, U.S. public relief program (1935-1943)
“But then in what way are things called good? They do not seem to be like the things that only chance to have the same name. Are goods one then by being derived from one good or by all contributing to one good, or are they rather one by analogy? Certainly as sight is in the body, so is reason in the soul, and so on in other cases.”
—Aristotle (384–322 B.C.)
“My first big mistake was made when, in a moment of weakness, I consented to learn the game; for a man who can frankly say “I do not play bridge” is allowed to go over in the corner and run the pianola by himself, while the poor neophyte, no matter how much he may protest that he isn’t “at all a good player, in fact I’m perfectly rotten,” is never believed, but dragged into a game where it is discovered, too late, that he spoke the truth.”
—Robert Benchley (1889–1945)