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Understand the power of incentive, use it intelligently and you may be unstoppable.
My exposition to the game theory strategy brought closer to me the power of incentive.
The prisoners dilemma shows how powerful you can be if you use incentive well.
Everyone is optimizing for something.
And at the extreme those things are selfish. Subtly align your incentive with this selfish interest and you will be unstoppable as a corporation, individual, government etc.
And at the extreme those things are selfish. Subtly align your incentive with this selfish interest and you will be unstoppable as a corporation, individual, government etc.
The American dream is the biggest incentive sold by the founding fathers of America to the world and it has endured principally because more than anything else, it appeal to all of us. We all want our dreams to come true at all cost.
But The US did not just succeed at it for empty reason, they created a favourable factor condition that makes the incentive even more compelling - the opportunity and environment to make your dream come to fruition.
Corporations do it as well.
Google sold a dream to the world and in exchange we gave up our privacy and all between that to them.
Let me tell you something, why do you trust google enough to entrust all your privacy to it? Because you have an incentive thrown at you - TRUST.
Google sold a dream to the world and in exchange we gave up our privacy and all between that to them.
Let me tell you something, why do you trust google enough to entrust all your privacy to it? Because you have an incentive thrown at you - TRUST.
Google like the American dream has again and again proved that it can deliver on the promise of keeping your privacy safe, that becomes an incentive for you to give up even the most private part your life to them through searches.
You search google for virtually all things.
You search google for virtually all things.
And google makes tone of money from those searches just like the US has become only richer over the decades.
It turns out then that the best games are played as an infinite game not a zero sum game.
Win-win and not win-lose.
Win-win and not win-lose.
The best outcome that maximizes the individual benefit in a game theory is always zero sum.
But the best optimized outcome for individuals in the game requires trade off.
From the examples so far, it is trade offs like this, where all parties keep to their end of the bargain...
But the best optimized outcome for individuals in the game requires trade off.
From the examples so far, it is trade offs like this, where all parties keep to their end of the bargain...
and sacrifice a little for the over all community benefit that has seen prosperity built up and endure.
In the end then, we cannot always get the best outcome for ourselves but the best optimized outcome for the group.
In the end then, we cannot always get the best outcome for ourselves but the best optimized outcome for the group.
For further research, use this links among others.
1. https://fs.blog/2020/02/finite-and-infinite-games-two-ways-to-play-the-game-of-life/
@farnamstreet
1. https://fs.blog/2020/02/finite-and-infinite-games-two-ways-to-play-the-game-of-life/
@farnamstreet
8.
Some earlier thoughts. https://twitter.com/DavidAlade__/status/1233848069856333827?s=19
Some earlier thoughts. https://twitter.com/DavidAlade__/status/1233848069856333827?s=19
