Predator-Prey Economics with Oswaldo Lairet (WiM217)
The "What is Money?" Show
00:00
The Importance of Game Theory
Nash equilibrium is the default strategy adopted among inherently antagonistic players. You can't trust all the other players, right? They're all out to get you. There's kind of a default strategy that's adopted n in those conditions. And again, just to reinforce the importance of game theory, i hate the term game theory actually, because it sounds like it something that's theoryiet. It is how behave. No, i often sayit, often put it like this: We are our incentives. What did charley munger say? Show me the incentive, i'll show you the outcome"
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Transcript
