Re. Ken Binmore - Game Theory - A Very Short Introduction
www.emilkirkegaard.com
Page 2 “Even when people haven't thought everything out in advance, it doesn't follow that they are necessarily behaving irrationally. Game theory has had some notable successes in explaining the behaviour of spiders and fish, neither of which can be said to think at all. Such mindless animals end up behaving as though they were rational, because rivals whose genes programmed them to behave irrationally are now extinct. Similarly, companies aren't always run by great intellects, but the market is often just as ruthless as Nature in eliminating the unfit from the scene.”
Re. Ken Binmore - Game Theory - A Very Short Introduction
Re. Ken Binmore - Game Theory - A Very Short…
Re. Ken Binmore - Game Theory - A Very Short Introduction
Page 2 “Even when people haven't thought everything out in advance, it doesn't follow that they are necessarily behaving irrationally. Game theory has had some notable successes in explaining the behaviour of spiders and fish, neither of which can be said to think at all. Such mindless animals end up behaving as though they were rational, because rivals whose genes programmed them to behave irrationally are now extinct. Similarly, companies aren't always run by great intellects, but the market is often just as ruthless as Nature in eliminating the unfit from the scene.”