Let the game begin in 10… 9… 8… 7… 6… 5… 4… 3… 2… 1…
RRRrrrriiiinnnngggg!!!!!!!!!!!
The sound of the alarm clock awakens you. It says 8:00 am. You immediately jump off the bed
The sound of the alarm clock awakens you. It says 8:00 am. You immediately jump off the bed
and hurriedly scamper to the comfort room. After a 5-minute shower,
you put on your garments,
brush your hair a little, run off to the kitchen, grab
toasted bread, wear your shoes and race to
the door. Now, you’re ready to face
and compete with the bustling people outside your
house and accept the challenges
that await your day.
Life is a game. Many people had developed strategies or ways on how to play it. You should make decisions wisely. Speaking of decisions, there is a study of strategic decisions where the results of strategies depend on other participant’s strategies, this is called Game Theory.
Life is a game. Many people had developed strategies or ways on how to play it. You should make decisions wisely. Speaking of decisions, there is a study of strategic decisions where the results of strategies depend on other participant’s strategies, this is called Game Theory.
To learn and understand game
theory better, let’s take a look at a book entitled “Rock, Paper, Scissors: Game Theory of Everyday Life” by Len
Fisher. This book would be a very good book to introduce game theory to
beginners, like me, to learn more about game theory.
The example of game theory used
in the book is the famous Prisoner’s Dilemma, a theoretical situation, in which
two suspects are arrested and imprisoned for a crime they probably committed. Each
of them is questioned separately and offered the same deal. They were asked to
confess and if no one does, both of them will be convicted for one year but if
both of them confess, they will be again imprisoned, let us say, for at least 3
years. If one of them betrayed the other while the one being betrayed stay
silent, the confessor will be freed while the one who remained silent will be
put to jail, more than necessary. And then he introduced the Nash Equilibrium
made by John Nash. Its idea mainly say that it is a position in which both
sided have selected a strategy and neither side can then independently change
its strategy without ending up in a less desirable position.
Game
theory is everywhere. The author incorporated it with the common events that
happen in everyday life. For instance is the wedding. A guy offered two pieces
of cake, sliced unequally, to a person. That person chose the smaller one because
he/she would feel bad taking the larger slice. The game theories call that sort
of overall benefit “utility” in
which all the factors had been taken into action. He also introduced the
concepts of minimax and fair division. He highlighted it with anecdotes like
how he got in trouble while he shooted fireworks when he was still a kid. Minimax
means looking at a situation to see how much you might lose and then planning
your actions so as to minimize that loss.
The
book does not only discuss Prisoner’s Dilemma but as well as Tragedy of the Commons, Free Rider, Chicken, The Volunteer’s
Dilemma, Battle of the Sexes,
and Stag Hunt.
He also associated the famous game played around the world, the
rock-paper-scissors game. I was really amazed on how he used it in conflict
resolution. I think the reason is that the game has no pure strategy that makes
you dominate the others. Thus, situations and games which seem to be at a
standstill can be solved by adding strategies and making them to
rock-paper-scissors situations.
The rest of the book revolves about cooperation:
how we can gain others trust, offer bargain effectively, and then changing the
game to avoid being trap of the Prisoner’s dilemma and other unpleasing results.
As what I had
said at the earlier part, life is a game. Its either you win or lose and winning
depends on how you play it. You should make good strategies and decisions to
live smoothly. And in every game that you encounter, you should have a weapon
that will help you play it out well. To conclude this, I will leave a famous
phrase that I think each one of us is praying for, “May the odds be ever in our favor”.
I've read this book!!!! Game theory in every aspect of society.. From Biology to Physics! amazing!
ReplyDeleteGame theory?? sounds interesting to me....
ReplyDelete