Exercise 1 After visiting one of the Prisoners' Dilemma games online, go to cs-education.stanford.edu/class/sophomore-college/projects-98/game-theory/axelrod.html and answer the following questions: a. Can you think of any real-world situations that mirror the Prisoner's Dilemma? b. How might the strategies discovered by Alexrod and others translate into real-world strategies? c. How would rational choice theory, network theory, and exchange theory deal differently with the problems inherent in the Prisoners' Dilemma? d. What would be your personal strategy?
Exercise 2 Rational choice theory and network theory have had a great deal of influence over the development of economic sociology. Go to www.gsm.uci.edu/econsoc/Collins.html. Read "The Multiple Fronts of Economic Sociology," by Randall Collins, and then answer the following questions: a. What are the ways in which rational choice has influenced economic sociology? b. What are the ways in which network theory has influence economic sociology? c. What can either theory contribute to efforts to develop a synthesized economic sociology?
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