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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I wan't to make this one clear for me... If i make 10 and my friend makes 20 our total production value seperatly is 30. So shloud'nt the 10 additional ones that we made while working together be devided by 3, since in my friends favor, since his production value is higher?
8:45 - this is flawed if he worked on his own he made 30 cookies in the same about of working with someone he made 40 cookies. So two of them working alone could of made 60 cookies, but together they made 40. So what would of been better is if he taught his friend how to make cookies, then they split the profit from working together. See how that works better. If instead of trying to keep control of the recipe he trusts his friend. Then he has a chance of greater profit. Being smart is not trying to hold the other person back in order to keep an advantage. If you're constantly worried about someone screwing you over or doing better than you, then that shows a horrible flaw in the education system, because working together and trusting people is always better. Not everyone can do one job that is also how this is flawed. On large scale it's always better to not try get an advantage over other people.
This is a bad strategy. This implies doing something wrong is right. The best solution is to work out a way in which both parties win. By confession they are making a correct decision and so should be rewarded for doing that. Because if one loses out and gets ten years, he probably will cut your life short when he gets out. Giving you a total of 10 years or so to live or being in a constant state of fear. The best solution is to workout how to get along. It's not how to screw each other over. If your solution is to screw someone over, than they don't grow as a person and so they could do something like build the internet and make life better for all. If you keep people stupid, and give yourself the advantage you run the risk of losing out massively. The best solution is always to work out how everyone in the situation can gain. So instead of turning them against each other you say. Will both give you less time if you both confess. But if only one confesses then you both get a longer life sentence. In which both now want to confess, because nothing bad happens to the other person. No one is screwed over.
Game theory began with Von Neumann not Nash. And please desist from inserting hippy politics into mathematics. That there may be reasons for paying non performers isn't a core idea of GT, your emphases here reflects your personal political preference. Otherwise you should also mention that it may also be a very bad idea as it incentivizes non-performance and can lead to mooching.
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Cookies riddle has actually not sufficient incomng data. We know what my and my friend's separate productivity is, but our productivity in a streamline model is not given. We can solve it the way shown in the video only if we cook separately
@8:55 Game theory doesn't tell you how to be fair. I assume an economist wrote a line that absurd. Fairness is a perception (about which there are decades of research), and this approach barely skims the surface of only one facet of perceptions of fairness.
Actually cooperative games exist when there is an authority that can enforce contracts effectively, thus enforcing cooperative strategies. In non cooperative games there is no effective authority that enforces contracts, thus coalitions exist only as far as they are convenient or enforcible by the players themselves. You are confusing concepts of cooperative games with zero sum games. In zero sum games what you win was lost by another player. In non zero sum games you have to consider the creation and destruction of value within tne game. Different concepts.
By that logic, you cannot play a game by yourself. But there are tons of games that make you play against a "system". Most computer games are, for starters, and most cooperative games can be played by yourself
Game theory is older than John Nash. The book Theory of Games and Economic Behavior by von Neumann and Morgenstern is considered the foundational text, but of course it was written about before them. The first edition of their book was published in 1944. Here's the Amazon link:
that example reminds me of the game show Friend or Foe. two players have acquired a certain amount of money based on their performance in the game. Then at the end they make a secret decision. If they both choose the Friend option, then they split the winnings 50/50. If one chooses Friend and the other chooses Foe, then the person who chose Foe gets all the winnings and the other person leaves with nothing. If both people choose Foe, they both leave with nothing
T.J. Payeur Doesn't matter since utils and utility in general can represent perceived value or subjective value as well as actual or actionable value. Game theory works on ordinal value calculations not cardinal values per se.
how many years has the two employees had these skills.
have both employees been reskilles during their careers.
if someone with ten years in the field having reskilled is applying for a job with someone just out of college in employing the ten year expierencd guy on a trial basis and taking one the college kid until the project is complete and letting go the more expierenced (and more expensive) party while retaining the college kid.
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