Sumo wrestlers have 15 matches per tournament and the benefits of winning 8 matches (a winning record) are very large, compared to the benefits of winning a 5 matches (compared to 4) or the benefit of winning 10 matches (compared to 9). Sumo wrestlers who have won 7 matches and lost 7 matches tend to win a statistically anomalous (they win too often) amount of the time in their last match of the tournament. In order to show that this is unlikely to be explained by 'wrestlers with 7-7 record try hard to win' researchers show that wrestlers who win a 8th match in these circumstances then tend to lose a statistically anomalous amount of the time when they next face that same opponent (they lose too frequently when those wrestlers next meet). This result is consistent with 'win trading'. The researchers find that wrestlers about to retire benefit less from the 'wrestlers at 7-7 tend to win' effect. Pick the answer which best explains the fact that wrestlers tend to win an 8th match more than can be explained by chance, unless the wrestler is about to retire. Levitt and Duggan (2002) Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. Sumo wrestlers are playing a repeated game that is about to end and are afraid of getting caught 'cheating' so they refuse to trade a wins near the end of their career when they know the game is finite. b Non-retiring wrestlers are playing an infinitely repeated game and cooperate to prevent about-to-retire wrestlers from winning. Win trading is cooperation that works in an infinitely repeated game, but does not work when players know the game is finite. d Sumo wrestlers are individual players. Their gyms organize the win trading. The gyms see the games as infinitely repeated.
Sumo wrestlers have 15 matches per tournament and the benefits of winning 8 matches (a winning record) are very large, compared to the benefits of winning a 5 matches (compared to 4) or the benefit of winning 10 matches (compared to 9). Sumo wrestlers who have won 7 matches and lost 7 matches tend to win a statistically anomalous (they win too often) amount of the time in their last match of the tournament. In order to show that this is unlikely to be explained by 'wrestlers with 7-7 record try hard to win' researchers show that wrestlers who win a 8th match in these circumstances then tend to lose a statistically anomalous amount of the time when they next face that same opponent (they lose too frequently when those wrestlers next meet). This result is consistent with 'win trading'. The researchers find that wrestlers about to retire benefit less from the 'wrestlers at 7-7 tend to win' effect. Pick the answer which best explains the fact that wrestlers tend to win an 8th match more than can be explained by chance, unless the wrestler is about to retire. Levitt and Duggan (2002) Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. Sumo wrestlers are playing a repeated game that is about to end and are afraid of getting caught 'cheating' so they refuse to trade a wins near the end of their career when they know the game is finite. b Non-retiring wrestlers are playing an infinitely repeated game and cooperate to prevent about-to-retire wrestlers from winning. Win trading is cooperation that works in an infinitely repeated game, but does not work when players know the game is finite. d Sumo wrestlers are individual players. Their gyms organize the win trading. The gyms see the games as infinitely repeated.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Sumo wrestlers have 15 matches per tournament and the benefits of winning 8 matches (a winning record) are very large, compared to the
benefits of winning a 5 matches (compared to 4) or the benefit of winning 10 matches (compared to 9). Sumo wrestlers who have won 7
matches and lost 7 matches tend to win a statistically anomalous (they win too often) amount of the time in their last match of the
tournament.
In order to show that this is unlikely to be explained by 'wrestlers with 7-7 record try hard to win' researchers show that wrestlers who win an
8th match in these circumstances then tend to lose a statistically anomalous amount of the time when they next face that same opponent
(they lose too frequently when those wrestlers next meet). This result is consistent with 'win trading'.
The researchers find that wrestlers about to retire benefit less from the 'wrestlers at 7-7 tend to win' effect.
Pick the answer which best explains the fact that wrestlers tend to win an 8th match more than can be explained by chance, unless the
wrestler is about to retire.
Levitt and Duggan (2002)
Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.
Sumo wrestlers are playing a repeated game that is about to end and are afraid of getting caught 'cheating' so they refuse to trade
a
wins near the end of their career when they know the game is finite.
b
Non-retiring wrestlers are playing an infinitely repeated game and cooperate to prevent about-to-retire wrestlers from winning.
Win trading is cooperation that works in an infinitely repeated game, but does not work when players know the game is finite.
d
Sumo wrestlers are individual players. Their gyms organize the win trading. The gyms see the games as infinitely repeated.
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