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In game theory there's a concept called Nash Equilibrium.
Each player chooses an integer from 1-100. A player whose number is closest to 2/3rd of the average integer selected by the other players wins.
Strategy starts with choosing no more than 67 and then its 2/3rd till..
Each player chooses an integer from 1-100. A player whose number is closest to 2/3rd of the average integer selected by the other players wins.
Strategy starts with choosing no more than 67 and then its 2/3rd till..
All boils down to 1. Everybody is a winner at 1. No difference between anyone's answers.
This results in everybody having an incentive to stay the equilibrium's course and not deviate from it.
We can see multiple products now in which Nash Equilibrium has been achieved.
This results in everybody having an incentive to stay the equilibrium's course and not deviate from it.
We can see multiple products now in which Nash Equilibrium has been achieved.
All cars now look the same:
All TVs now look the same:
All mobile phones now look the same:
New buildings all look the same:
