Game Theory Rock Paper, Scissors: Nash Equilibrium, Strategy, and Use in US case law
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Apr 27, 2021 Dive into the intriguing world of rock, paper, scissors, where luck meets psychology and strategy. Discover how Nash Equilibrium plays a role in gameplay and the surprising connection to zero-sum games. Explore the quirks of hockey's point system as it reflects game theory principles. Plus, hear about a Florida court case where a judge wittily resorted to this classic game to settle a corporate dispute, blending the realms of law and game theory in a remarkable way!
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Best 2 out of 3
- Best two out of three in Rock, Paper, Scissors eliminates pure chance and introduces strategy.
- Single games are primarily luck-based.
Nash Equilibrium and Non-Cooperation
- The Nash Equilibrium suggests that in a zero-sum game, non-cooperation is the most rational strategy.
- This is because losing everything is worse than gaining something.
RPS and Math
- Rock, Paper, Scissors has no mathematically ideal strategy due to equal win/loss/draw probabilities.
- Psychology and reading your opponent become key factors.