SOCIETY'S EFFORTS TO CORRECT THE VOTER'S PARADOX

Recognizing the inequities displayed by the VP and the cost to society, efforts are made by the leaders of society to change the balance sheet for the perpetrators of uncooperative actions. This is done in several wellknown ways.

Some Popular Methods of Minimizing the Social Dilemmas


Notes:

1. Not only do we have trouble estimating the true probabilities, but we, in fact, tend to be biased in our estimates. Humans, if given a choice, tend to take a sure thing over a probable expectation even if the expected value is higher for the probable event. See these class notes on "HUMAN JUDGMENT AND IMPRECISE PROBABILITIES" for a discussion.


Next Segment

Back to the Table of Contents