local optimums are dangerous - they can get civilizations collapsed. Use evolutionary algorithms & ensure enough level of mutation is present in the society ;)https://twitter.com/Plinz/status/941522164586557440 …
Misunderstanding! The Nash equilibrium is reached when all individual agents have optimized their behavior according to their incentives (whatever they think these are). Often this local equilibrium is not producing the globally best outcome, which is why you need governance.
-
-
I mean even a local maximum can produce better results than Nash equilibrium, right? Probably they can be even the same (local maximum and equilibrium)pic.twitter.com/DC2KKUcrLH
-
Any local optimum of the global system corresponds to a state where all individual agents have reached Nash equilibria. (That is simplified, of course; actual economies will almost never become stationary.)
- 1 more reply
New conversation -
-
-
A government is an agent that imposes an offset on the payoff function (via reward or punishment) of the individuals, so their Nash equilibria change, thereby improving the total benefits generated by the system. Often, this will increase the payoff for all individuals.
-
However, if an individual thinks that they would get a higher payoff by opting out of the system, they will not voluntarily submit to the government, so the government may have to give them extra rewards or punishments, or the individuals go rogue or Brexit.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.