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:
“The rumor of a great city goes out beyond its borders, to all the latitudes of the known earth. The city becomes an emblem in remote minds; apart from the tangible export of goods and men, it exerts its cultural instrumentality in a thousand phases.”
—In New York City, U.S. public relief program (1935-1943)
“Give up the feeling of responsibility, let go your hold, resign the care of your destiny to higher powers, be genuinely indifferent as to what becomes of it all and you will find not only that you gain a perfect inward relief, but often also, in addition, the particular goods you sincerely thought you were renouncing.”
—William James (1842–1910)
“I hate that aesthetic game of the eye and the mind, played by these connoisseurs, these mandarins who “appreciate” beauty. What is beauty, anyway? There’s no such thing. I never “appreciate,” any more than I “like.” I love or I hate.”
—Pablo Picasso (1881–1973)