Tuesday, July 18, 2017

Erica Klarreich — In Game Theory, No Clear Path to Equilibrium


Game theory in math and economics.

Quanta Magazine
In Game Theory, No Clear Path to Equilibrium
Erica Klarreich

5 comments:

Matt Franko said...

This kinda conflicts with that distribution simulation Neil posted up last week where only a few ended up with most of the munnie...

Unless you look at it as "the rich get richer" is a form of "equilibrium"...

Also it ignores the macro condition as surplus... it's a conditional probability where the condition is surplus...

Matt Franko said...

Like the oil price was very high and then North America increased output by 6M bpd ... and lowered their offer price...

Rig counts at all time highs at $45 as producers keep tapping into the surplus...

Matt Franko said...

We throw away half of our food...

Noah Way said...

There is a glut of *everything*.

Neil Wilson said...

There's no conflict.

In dynamics the system orbits an equilibrium point with varying degrees of elliptical orbit, and some of the perturbations may move the system to orbit a different equilibrium point.