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Author: LorenCobb Big gold star, 5000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 465355  
Subject: Re: D.C. Prison Rats: The Nash Equilibrium Date: 1/2/2013 7:06 PM
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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.

Harrumph.

Loren
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