by speedypro » Fri Mar 02, 2007 2:07 pm
Remember the program Tit for Tat.
The competition was staged for programs to play prisoners dilema game.
Two suspects, A and B, are arrested by the police. The police have insufficient evidence for a conviction, and, having separated both prisoners, visit each of them to offer the same deal: if one testifies for the prosecution against the other and the other remains silent, the betrayer goes free and the silent accomplice receives the full 10-year sentence. If both stay silent, both prisoners are sentenced to only six months in jail for a minor charge. If each betrays the other, each receives a two-year sentence. Each prisoner must make the choice of whether to betray the other or to remain silent. However, neither prisoner knows for sure what choice the other prisoner will make. So this dilemma poses the question: How should the prisoners act?
Lay all at 1.01? back all at 1.01 if price falls to 1.15? etc etc.
In the prisoners dilema problem the contest was staged for computer programs to battle for the best outcome, of all the multi level algorithm fuzzy logic turbo nutter injection entrants the winner was "Tit for Tat" a 4 line basic program.
The betfair equivalent is...?