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The gift-exchange game, also commonly known as the gift exchange dilemma, is a common economic game introduced by George Akerlof and Janet Yellen to model reciprocacy in labor relations. [1] The gift-exchange game simulates a labor-management relationship execution problem in the principal-agent problem in labor economics. [2]
A white elephant gift exchange, [1] Yankee swap [2] or Dirty Santa [3] [nb 1] is a party game where amusing and impractical gifts are exchanged during festivities. The goal of a white elephant gift exchange is to entertain party-goers rather than to give or acquire a genuinely valuable or highly sought item.
Ultimatum game. Extensive form representation of a two proposal ultimatum game. Player 1 can offer a fair (F) or unfair (U) proposal; player 2 can accept (A) or reject (R). The ultimatum game is a game that has become a popular instrument of economic experiments. An early description is by Nobel laureate John Harsanyi in 1961. [1]
Here are the rules to White Elephant, according to USA TODAY: Count your players and write numbers on cards. Draw the cards out of a hat to determine the order. Set a limit for the number of times ...
Below, shop 35 white elephant gift ideas—some funny, some useful, some thoughtful—that have potential to be the best gift in the pile. Voluspa Limited Edition Japonica Mini Candle, $10 ...
Secret Santa. This tried-and-true classic is great for coworkers. But Secret Santa gift exchanges also work for large families who want to take the pressure off having to buy so many gifts for so ...
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In game theory, an extensive-form game is a specification of a game allowing (as the name suggests) for the explicit representation of a number of key aspects, like the sequencing of players' possible moves, their choices at every decision point, the (possibly imperfect) information each player has about the other player's moves when they make a decision, and their payoffs for all possible ...