Events

7 May 2008

A solution to the Traveler's Dilemma

Seminar

The Traveler's Dilemma is a game theory problem wherein typical game-theoretic reasoning, specifically a backward induction argument, prescribes an intuitively irrational course of action. After explaining the traveler's dilemma I detail its key characteristics and underlying assumptions. I go on to present the backward induction argument and explain why its conclusion is incompatible with what one should do, intuitively, in the traveler's dilemma. I then offer a solution which diagnoses a flaw in that backward induction argument. The bulk of the paper focuses on this solution and I address objections to it.

Philosophy

Organisation:

Department of Philosophy, University of Auckland.