Referring to this.
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Explanation:
“Game theory”, in economics, refers to “how do you maximize your profits?”, in a theoretical way. Therefore it is greed theory. It should be called as such. The term “game theory” should be reserved for the study of Zelda, or eggs/sperm cells if one so wants.
? Economic game theory is “how do you maximize your profits while understanding everybody else is also trying to maximize their profits and their strategies have an effect on how well yours works”. Game theory is used in everything from economics to traffic to understand individual strategies in different environments. It’s a weirdly specific cog in the orphan crushing machine to take issue with
Well it’s the philosophical backbone behind a lot of decisions that management makes.
“If the company does X, the people will respond with Y, and that will earn us Z money. So we do it, even though it’s unethical.”
So I guess that it’s an important part to take an issue with.
