B. Research Design Rationale
1. Question format: In order to allow the research study to become embedded in the field of economics, the research question will use an applied question format. The purpose of the study is to develop a predictive method regarding player choices in the Prisoner's dilemma. It will explore the association of risk and cooperation or defection in the Prisoner's
2. Research design: The research will use a deductive approach where the theory will be presented and tested through the methodology. The research will use quantitative research methods, which are suited for research where the information can be reduced to a numerical format. This is the case in the proposed study as both risk tolerance and the decisions made in the Prisoner's Dilemma can be reduced to numerical data and standard statistical methods applied.
III. Data/Information from Previous research
A. Literature Review
The literature review for the study will be divided into several sub-headings, as several different areas of study must be addressed. This is original research and it is expected that very little research will exist on the exact topic to be studied. The following sections and sub-sections will be explored in order to gain a thorough understanding of the research problem.
1. Risk Tolerance and Behavior: This section of the Literature review will explore research on the connection between risk tolerance or risk aversion and behavior. This area has received considerable academic attention in recent years.
2. Risk Tolerance and Motivation towards Selfish or Cooperative Action: This section of the research is expected to yield a lower number of actual studies, but is it is targeted more specifically to the problem that is being researched. This will be essential research in understanding the predictive merit of risk tolerance in the Prisoner's Dilemma.
3. The Prisoner's Dilemma: The Prisoner's Dilemma in relation to Game Theory has been studied many times. This section will explore the various studies that have been conducted on the Prisoner's Dilemma. It will only address those that address topic in economics, as this concept has been expanded to included many other areas of study that are not related to economics or the question to be addressed.
4. Game Theory and Competitor Actions in Various Markets: This section of the literature review will e essential in the ability to apply the research to economics and to practical problems that exist in the world today. As the global economy becomes more integrated and companies are faced with different decision than they were in the past, they must often make decisions regarding whether to form alliances with former partners, or whether to defect and protect their own market share. This section of the literature review will examine risk and game theory relate to these decisions. It is expected that a wide body of research will be found on this topic area.
IV. Data Analysis
A. Statistical Analysis
1. Risk Tolerance Data: Risk Tolerance data will be separate from Prisoner's Dilemma data collected from the game. Risk Tolerance surveys will be given, producing a number along a scale that ranges from high risk tolerance to low risk tolerance. This number will follow the subject throughout the study and will be directly tied to a specific study participant.
2. Prisoner's Dilemma Data: Each subject will be paired with another person and they will play 25 rounds of the Prisoner's Dilemma. The reason for multiple rounds is that eventually, each player gets to know the other player and will make decisions based on what they think the other will do.
This is the point of the game. Their scores will follow them, as with the risk tolerance score. No effort will be made to pair high risk takers with low risk takers, or any other combination. This data will result a group of scores for each player for each of the 25 rounds. The data will be analyzed as to whether the player was a cooperator or a defector a majority of the times.
3. Correlation: Game player pairs will be divided into several categories according to their risk tolerance scale results. The direction of the pairing will be insignificant the categories of player pairs will be as follows.
a. high tolerance...
high tolerance to low tolerance
c. low tolerance to low tolerance
4. Prediction: The hypothesis of the study will state that risk tolerance scores will be predictive or actions in the Prisoner's Dilemma Game. Prisoner's Dilemma data will result in the players being further categorized as cooperators or defectors. Combining these categories with risk tolerance data will result in the following subject categories: high tolerance/cooperator, high tolerance/defector, low tolerance/cooperator, and low tolerance/defector. If the hypothesis holds true a person who is high tolerance be more likely to be a cooperator and low risk tolerance persons would be more likely to be a cooperator. The percentage or subjects in each category will be compared to demonstrate whether the hypothesis holds true or not.
V / Discussion/Conclusion
The implications of the study results will be discussed. This section will discuss how the results of the study can be applied to real-world situations and the changing competitive landscape of the global economy. It will discuss future research that needs to be addressed in this area. It will tie the results of the study together in a way that reflects a contribution to the study of economics.
This final section of the study will summarize the research and present the final conclusions that can be drawn regarding the hypotheses and research questions.
Agarwal, J. & Feils, D. (2007). Political Risk and the Internationalization of Firms: an Empirical
Study of Canadian-based Export and Fdi Firms. Canadian Journal of Administrative
Sciences. 24 (3): 165+. Questia Database.
Ansell, C. & Gash, a. (2008). Collaborative Governance in Theory and Practice. Journal of Public Administration Research and Theory. 18 (4): 543+. Questia Database.
Araral, E. (2009). The Strategic Games That Donors and Bureaucrats Play: An Institutional
Rational Choice Analysis. Journal of Public Administration Research and Theory. 19 (4):
853+. Questia Database.
Banham, R. (2004). Enterprising Views of Risk Management: Businesses Can Use ERM to Manage a Wide Variety of Risks. Journal of Accountancy. 197 (6): 65+. Questia
Bosner, K. & Lakehal-Avat, M. (2008). A Comparison of Risk Tolerance and Risk Capacity
among College Finance Students. Academy of Accounting and Financial Studies Journal.
12 (1): 67+. Questia Database.
Brickett, P. & Golden, L. (2007). Biological and Psychobehavioral Correlates of Credit Scores
and Automobile Insurance Losses: toward an Explication of Why Credit Scoring Works.
Journal of Risk and Insurance. 74 (1): 23+. Questia Database.
Brightman, H. (2007). Nash in Najaf: Game Theory and Its Applicability to the Iraqi Conflict.
Air & Space Power Journal. 21 (3): 35+. Questia Database.
Chaudhri, V. (2005). Game Theory and Business Applications. Economic Record. 81 (252): 88+.
Clark, J. & Lee, D. (2005). Leadership, Prisoners' Dilemmas and Politics. The Cato Journal. 25
(2): 379+. Questia Database.
Cunningham, J. & Herte, D. (2008). Weather and the Calculated Risk: Exploiting Forecast
Uncertainty for Operational Risk Management. Air & Space Power Journal. 22 (1): 71+
Dorminy, J. & Mohn, R. (2007). A Model for Not-for-profit Enterprise Risk Management: Erm
at the Federal Reserve Bank of Richmond. The Journal of Government Financial
Management. 56 (1): 50+. Questia Database.
Golbeck, J. (n.d.). Evolving Strategies for the Prisoner's Dilemma. Computer Science
Department. University of Maryland. Retrieved June 4, 2010 from http://www.cs.umd.edu/~golbeck/downloads/JGolbeck_prison.pdf
Harris, a. & Madden, G. (2002). Delay Discounting and Performance on the Prisoner's Dilemma
Game. The Psychological Record. 52 (4): 429+. Questia Database.
Jianakoplos, a. & Bernasek, a. (2006). Financial Risk Taking by Age and Birth Cohort.
Southern Economic Journal. 72 (4): 981+. Questia Database.
Khalfan, S. (2009). Managing Internal and External Risk in the Information Age. The Public
Manager. 38 (1): 79. Questia Database.
Leslie, C. (2004). Trust, Distrust and Antitrust. Texas Law Review. 82 (3): 515+. Questia
Leslie, C. (2006). Antitrust Amnesty, Game Theory and Cartel Stability. Journal of Corporation
Law. 31 (3): 453+. Questia Database.
Li, J. (2007). When Are There More Laws? When Do They Matter? Using Game Theory to Compare Laws, Power Distribution and Legal Environments in the United States and China. Pacific Rim Law & Policy Journal. 16 (2): 335+. Questia Database.
Marks, M. (2001). The Prison as Metaphor: Recasting the "Dilemma" of International Relations.
Alternatives: Global, Local, Political. 26 (3): 349+. Questia Database.
Mcadams, R. (2004). Adjudicating in Anarchy: An Expressive Theory of International Dispute
Resolution. William and Mary Law Review. 45 (4): 1229+. Questia Database.
Merck, R. & Yeung, B. (2004). Family Control and the Rent-Seeking Society. Entrepreneurship:
Theory and Practice. 28 (4): 391+. Questia Database.
Minkler, L, & Miceli, T. (2004). Lying, Integrity and Cooperation. Review of Social Economy.
62 (1): 27+. Questia Database.
Sobel, P. & Reding, K. (2004). Aligning Corporate Governance with Enterprise Risk
Management. Management Accounting Quarterly. 5…
The documents we provide are to be used as a sample, template, outline, guideline in helping you write your own paper, not to be used for academic credit. All users must abide by our "Student Honor Code" or you will be restricted access to our website.
Risk of Committing Violence Among Individuals Suffering From Bipolar Disorder Several studies argue that most psychiatric symptoms are closely correlated with criminality, since such symptoms impair judgment and violate societal norms. In this regard, several studies have been conducted regarding the risk of violence among individuals suffering from mental illnesses but few have highlighted the possibility of bipolar individuals engaging in criminal behavior. The common disorders known to be highly related
Incarcerated Women The number of people incarcerated in the United States has been on the rise and women have greatly contributed to this trend. Through their increased numbers in jail it is estimated that their numbers grow annually by about 8%. Women from minority groups form the major part of this population. These are the women who come from low economic backgrounds and areas neglected politically. The women of color are
Education: The Intolerance of Zero Tolerance Zero Tolerance Policies in Public Schools One has only to turn on the television, log onto the Internet, or glance at a newspaper to see that violence is everywhere in our society. The nightly news is dominated by one act of depravity after another: murders, rapes, and violent assaults, among others. Hate crimes send shockwaves through seemingly peaceful communities. A cross is burned in a field, a
Suicide in Jails and Prisons Suicide Incidence of suicide in prisons According to the World Health Organization, suicide is the most common cause of death in jails and prisons. The rate of suicide in penitentiaries is also high. These correctional facilities also have a role to play in ensuring their inmates are healthy and safe. This is the reason why a plan for prevention of suicide in correctional facilities is essential. Characteristics available
Women in Prison Major Legal Issues Concerning Female Inmates Problems in corrections: Dealing with the unique needs of women in the prison system The number of female prison inmates in America and internationally is growing. Although men still outnumber women in the prison population, the rates of female incarceration, once considered relatively nominal, have skyrocketed. "In the U.S., where the prison and jail population reached two million in the year 2000, women's incarceration is
Juvenile Crime United States is on the top of western countries experiencing crime activities. Though, till the past decade the rate of crimes has fallen down but still U.S. has the highest rate. Whether they are adults or juveniles, the rate of committing crimes is quite higher in both groups. There are different reasons been explored, why U.S. is facing the highest rate of crimes; however the exploration and discussion is