Game theory is a branch of mathematics and economics that pertains to situations in which the payoff to each individual depends on other people's decisions. Game theory illustrates how individuals can achieve an optimal outcome based on predictions of the decisions others will make, balancing their risk/benefit against the overall best outcome for all individuals. One game of game theory that we played in class recently was the one described as red and black, which illustrated both the difficulty of trusting other people in a shared area, and also the generally different strategic ways each person handled the experience, which had an impact on whether the group was successful or not as a whole. For this reflection, I will reflect on my own experience through the game and what it teaches about cooperation, trust, and strategy.
In our class, we were each asked to choose between a red or a black card. The rules were simple yet challenging: if only one person chose red, that person would earn 10 points. If everyone chose black, each of us would earn 5 points. However, if the majority chose black but a few chose red, we would only receive 2 points each. I initially felt optimistic that everyone would choose black, trusting that we would all work together to earn the maximum 5 points. Unfortunately, five people chose red, and as a result, we ended up with just 2 points each. Even though it was better than nothing, it was a bit disheartening.
Reflecting further, I couldn't help but wonder who the five people were who decided to choose red and what motivated their decision. Was it a strategic move driven by personal gain, or did they simply doubt that others would cooperate? Their choice significantly impacted the outcome for all of us, and it highlighted the complexity of trust and collaboration in a group setting. It made me realize how fragile collective efforts can be when individual interests take precedence, even in a situation where everyone stood to gain more by working together.
To help settle my feelings of disappointment, I remembered a book that perfectly relates to this experience: The Art of Strategy, which discusses the concepts of Game Theory. One key takeaway from the book is that sometimes, cooperation is the best strategy—even during competition. It emphasizes that in many situations, everyone can achieve better outcomes by trusting and working with one another. Building trust, maintaining a good reputation, and practicing fairness can offer significant advantages over time, even if in the short term it might seem more tempting to prioritize personal gain.
Overall, this experience was an eye-opener about the real challenges of trust and cooperation within a group. While it was frustrating to see our collective potential reduced because of a few individual choices, it also served as a valuable lesson. True cooperation is hard, and it requires a shared commitment to thinking beyond personal benefit. In the future, I hope that we can all recognize the long-term value of working together and that trust can be strengthened through experiences like this one.