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A video format primer on Game Theory for you all.

I fukn love Game Theory! It was something I intuited long before I knew what it was because it is everywhere in life.

Learning poker was my first practical example of it, then studying it directly, and learning of the Austrian School’s connection to it with information asymmetry and praxeology.

If you operate in a competitive environment, business or marketing or sales, where information is currency - studying Game Theory could be the best thing you ever do.

https://youtu.be/mScpHTIi-kM

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Discussion

RamenCoffee 1y ago

Fighting games teach game theory realky nicely too.

StackSats.IO 1y ago

This is a really good example!

I spent a shitton of time playing Mortal Kombat 3 on SNES and learned quickly that Sheeva was useless but with Lui Kang I could beat most.

Tekken was really good too. Weirder characters with different abilities.

Had no idea at the time this was related to game theory but I knew when I got my arse kicked in certain matchups that I needed different skills/strategies if I wanted to win.

RamenCoffee 1y ago

Alot of the game theory gets into okizeme and setup scenarios.

You have to calculate based on the matchup your optimal mix of options vs their optimal mix of options and adjust according to their slant devjating from optimal mix.

It's a game of Rock paper scissors and on the fly optimization.

Nic 1y ago

Game Theory is how I am able to train the goalies I work with, to stay ahead of new goal scoring trends in hockey.

If A, then B. If B, then C. If C, then D.

I remember years ago, we were preparing our athletes to stop this one play called "the Michigan". It's when players behind the net scoop the puck on their stick, then wrap it around the net, above the goalie's shoulders.

People used to make fun of us, thinking we were wasting our time, preparing the goalies to stop a situation they never face in a game. Now, it's something that occurs almost weekly in very hockey league.

I think that especially now, with information moving so much faster than before, having a basic understanding of Game Theory is crucial, if anyone wants to compete in their own market place.

If new strategies catch you by surprise, you'll always be chasing and reacting, never having time to settle down and think things through.

If you can think a few moves ahead, then you can be prepared for when the new strategies are exponentially deployed.

Brisket 1y ago

I stumbled on it around 2009.

One of my biggest takeaways was that people's actions were more predictable when they acted in their best interests. When people tried to put the interests of others ahead of their own (to virtue signal or whatever), they became largely unpredictable.

It's about the time I started acting unapologetically selfish. #imhelping

StackSats.IO 1y ago

Yep, this is why it’s so useful to understand in business in particular - people will act in their own rational self-interest 99.99% of the time and thus you can very easily discern what course of action they are most likely to take in a given scenario if you just put yourself in their shoes.

That means you have to be able to empathise.

Ironically the virtue signallers think they are supreme in the realms of empathy hence they take on other peoples causes, in reality they are addressing their own emotional needs and projecting on to others rather than operating from rational self-interest.

This is how leftists are weaponised in politics - they go for what sounds good rather than what is good.

Brisket 1y ago

Yeah empathy is a useful skill

Layerjack (Onion Knight) 1y ago

I like Austrian painters.