The best thing I read this week was American Bandstand, by Ben Hunt of Salient Partners. It looks at the game theory and, more specifically, the “common knowledge game” and thus sees the market as more of a voting machine than a weighing machine, at least in the nearer-term. Continue reading
When my kids were teenagers, if something was random, that was a good thing. A really good thing, in fact. Something funny was random. A good party was random. Being more than a bit of a fussbudget, I objected to such usage. I didn’t think it was correct.
But I was wrong. Continue reading
A British game show (unfortunately) named “Golden Balls” invites contestants to play a version of the Prisoner’s Dilemma, wherein the two contestants have to decide whether they’re going to “split” or “steal” a significant pot of money. If they both opt for the split, they indeed split the money. If one opts to split and one opts to steal, the one who opts for “steal” gets the whole pot. But if they both opt for “steal” then they both go home empty-handed. This video illustrates an impressive game theory power move instigated by one contestant (and it worked).