With up to ten years in prison at stake, will Wanda rat Fred out? Game theory is looking at human interactions through the lens of mathematics.
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In life decisions are rarely an "end game" Life games are open ended. If a person chooses to squeal that action could well come back to bite them later. They will be known to be selfish. In the long run it is best to be dependable and supportive of others and not one who only looks out for the self.
I feel as if one need only spend a few minutes engaging with an mmo community to understand the flaws of game theory. I’ve had multiple instances as a gamer where I’ve received generosity on the basis of gesture and nothing else. Perhaps it is applicable to the fundamentals in nature. However, I believe that our humanity transcends it.
The best choice is not to tell period what he fail to realize in his whole theory of Nash equilibrium is the moral choices one take before and after there actions. You see one may belike take a ten year stint or a life bid isn’t worth telling and will stick to that to the end and will usually be around the same type of people when it comes to doing what ever social decisions they chose to make
Warning: read actual books, journals and original works on game theory to understand it. While doing so use some critical thinking and interact with whatever the author is saying. Real knowledge isn't cheap. Don't just come here online looking for someone to do the reading on your behalf and make quick and easy videos for you. You will end up feeding on someone else's opinions/interpretation of facts and will go out regurgitating them. Do the hard work,
go back to sources ( ad fontes) , even if it's difficult keep reading, questioning and interacting. That's how you really get educated. Otherwise, you become a mindless automaton for some fast-talking, glass wearing professor-wannabe guy.🖖🏾
Wow, thank you for the comment at the beginning of the prisoners dilemma calling it a competitive game. This so precisely explains why i disagree with the standard solution. I play it as a cooperative game. The year totals used are almost always so extreme, that it would be foolish not to cooperate with your partner.
Game theorists lost interest in cooperative game theory decades ago. It is a waste of breath to spend so much time on the Shapley Value. So dull, this is a bad introduction likely to turn people off to what is really a much more interesting topic than represented here.
If there is one thing to be right about in an introduction to game theory it is the definition of a Nash Equilibrium. An NE requires that all players are optimally best responding simultaneously. It does not consider what the optimal play is “no matter what the other player does.” Fail, thumbs down.
"The meaning of the term scientific theory (often contracted to theory for brevity) as used in the disciplines of science is significantly different from the common vernacular usage of theory.[Note 1] In everyday speech, theory can imply an explanation that represents an unsubstantiated and speculative guess, whereas in science it describes an explanation that has been tested and widely accepted as valid. These different usages are comparable to the opposing usages of prediction in science versus common speech, where it denotes a mere hope."
Excellent video on the basics of Game Theory. My 17 year old learned a lot from it. It may also be worth mentioning that Game Theory is put to good use by economists, military strategists, and policy strategists. Differential Games are more difficult to axiomatixe and compute, but often more accurately reflect real world situations. Military strategists generally use Differential Game Theory, as situations are often continuously changing.
It seems to me that America's CEOs are not applying the rules of Game Theory equitably. In 1980, the average CEO's salary was 42 times that of the average worker. However, that number currently stands at about 350. I highly doubt that the average CEO marginal contribution increased by over 800% in 40 years. Wake up, people ...
Don't buy the cookies.
If you make 10, your friend makes 20, together you make 40 and earn $40, then your friend's production is 2x yours (20/10) and should receive 2x as much. so payouts should be $13.33 for your and $26.66 for him and forget the penny.
That's not how it works. You get $10 for your 10 cookies and your friend gets $20 for his 20 cookies. Then you divide the remaining $10 equally. So you finally get $15 and your friend gets $25. That simple.
Why, in the second example are not we dividing according to the ratios of our self-baked cookies. for instance I get 40/3 while my friend gets 40.2/3. So I get 13.33 and My friend gets 26.67. Is not this more fair?
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