Sam discusses his future of economics.
We disagree, but I appreciate the feedback.
The first time I read about game theory I loved it. It was a way of describing the world. Every decision can be viewed as a play in a game.
I still think game theory gives us a good way to view the world. But people are crazy. It is no use trying to predict behavior.
In other words life is a game, but Nash equilibrium is meaningless.
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2 comments:
At the end of the day scientists are always going to be more persuasive than philosphers on policy issues. You must find a way to do convincing empirical work that supports your cause. If game theory as it is practiced today doesn't work for you, change it to suit your problem. We live in a world full of data. If you try to make a case and have no empirical evidence to support your position your audience will assume that none exists.
We live in a world full of meaningless data.
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