Economics Challenge Series – Challenge 6: Game Theory Game Results

Hi Everyone,

Welcome to the results post for the Game Theory Game Challenge. During the month of August, I will post all the results of the 2023 Economics Challenge Series. I will gradually work through all the seven challenges posted in July.

What is the Game Theory Challenge?

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For the benefit of those who did not enter this challenge, here is a brief explanation of how the game works.

Participants were required to choose 6 out of 11 boxes. Each box was assigned a value. The value of the box is equally shared amongst the participants who selected it (e.g. if a box has a value of 30 and 6 participants select that box, each participant obtains a value of 5). The sum of the values of the selected boxes, after being adjusted for sharing, are the participant's score.

This challenge has several win conditions. These conditions are as follows:

1. The participant who obtains the highest value wins the challenge if no other participants obtain that same value.
2. If more than one participant shares the highest value, the participant with the lowest value wins if no other participants obtain that same value.
3. If more than one participant shares the highest value and if more than one participant shares the lowest value, the first and second participants to enter the challenge will be joint winners of the challenge and will share the prize equally. This will occur regardless of the value they obtained from the boxes.

Responses to the challenge were made in the comments section of the challenge post. The total prize for this challenge could reach as high as 60 Hive Power. The number of participants determines the value of the prize. For every entry, the prize is increased by 5 Hive Power until a value of 60 Hive Power is reached. The winner will receive the full value of the prize. The winner of this challenge will also be given 30 points. The points from these challenges will be tallied at the end of the Challenge Series to determine the overall winner.

The format of the required entry is explained in detail in the challenge itself.

For a more detailed explanation, you can access the challenge post using the following link.

Other Challenges

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Below are the links to all seven challenges in the series.

• Challenge 1: Buying and Selling Game
• Challenge 2: Pick-a-Door
• Challenge 3: Complements and Substitutes
• Challenge 4: Buying and Selling Game (Business Version)
• Challenge 5: Ice Cream Game
• Challenge 6: Game Theory Game
• Challenge 7: Even-to-Win

Results of Game Theory Challenge

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Table 1 contains the selections made by all the participants for this challenge, the values of each box after sharing, each participant’s score, and the winner of the challenge.

Table 1: Results of the Challenge

Note: winner highlighted in yellow.

The winner of the challenge is @takhar. @takhar won by achieving the outright highest score of 13.44. As the number of participants exceeded 12, @takhar wins 60 Hive Power as well as 30 points.

Overall Series Score

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After six challenges, the overall scores for the Challenge Series are as follows.

Position	Participants	Points
1	Emeka4	35
2	Takhar	30
3	Practicaleric	25
4	Drlobes	25
5	Micheal87	20
6	Happy411	20
7	Wealthwess	15
8	Adedayoolumide	10
9	Voidd	10
10	Biyimi	5

This table will be updated in every results post.

Challenge Tips and Analysis

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There are many ways of approaching this challenge. It is difficult, as we cannot control the behaviour of other participants. Entering later enables a participant to observe many of the other participant’s actions. However, it is possible that a winning strategy will not be available for a participant entering late.

In the case of this challenge, a new final participant could not have made a late entry and won. This is because @takhar selected the six boxes with the highest value. If several more participants had entered, this might have changed.

Final Results

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In the next results post, I will announce the winners of the final challenge as well as the overall winner of the Challenge Series. The winners of the final challenge will be paid out as usual, roughly one day after the results are announced. The overall winner will receive his or her prize on the September Hive Power Up Day. I wish everyone all the best. The points for the final challenge is 40. Anyone who entered the final challenge could become the Challenge Series winner as the series is so close.

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More posts

I have several collection of posts. I have organised these collections based on content and purpose.

The first collection contains six collection posts created before PeakD had the collection feature. Four of these posts relate to the core of my content, one of them contains all my Actifit Posts, and one of the them contains my video course ‘Economics is Everyone’.

The second collection consists of the posts that I consider define my channel. These posts are significant in terms of content as well as how they contribute to the growth of the channel. These posts reveal the most about what I believe in.

The third and fourth collection is what I call my ‘Freedom-base Economics living book’. They contain all the posts that support my ideas about the value and power of freedom. Some of these posts explain what we can achieve with freedom and what we need to utilise it. Some of them explain how we are deprived of freedom and how we often give up freedom for security and comfort. The third collection concludes with possible scenarios depending on what we (society) choose to do.

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