No. of Recommendations: 33
The author (Simon Black) writes: The recent fiscal cliff negotiations were almost a textbook case of the [Nash Equilibrium] theory, resulting in the same sub-optimal outcome... The uncomfortable truth that nobody in officialdom wants to admit (save outgoing Congressman Ron Paul) is that the fiscal situation is unfixable.

Say what?

The unavoidable truth about game theory is that if you change the game enough then the outcome will be different. In fact, that is the whole point of having a "game theory" in the first place. Nowhere is it written that a game is unfixable. This is just a pseudo-mathematical fantasy of a certain class of unimaginative and uneducated dogmatists.


Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.