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:
“Mistakes, scandals, and failures no longer signal catastrophe. The crucial thing is that they be made credible, and that the public be made aware of the efforts being expended in that direction. The “marketing” immunity of governments is similar to that of the major brands of washing powder.”
—Jean Baudrillard (b. 1929)
“This avidity alone, of acquiring goods and possessions for ourselves and our nearest friends, is insatiable, perpetual, universal, and directly destructive of society.”
—David Hume (1711–1776)
“Life is a game in which the rules are constantly changing; nothing spoils a game more than those who take it seriously. Adultery? Phooey! You should never subjugate yourself to another nor seek the subjugation of someone else to yourself. If you follow that Crispian principle you will be able to say “Phooey,” too, instead of reaching for your gun when you fancy yourself betrayed.”
—Quentin Crisp (b. 1908)