Friday, June 22, 2012

game theory and logic are very useful things...

I usually love Ariel Rubinstein's writing (as intentionally provoking as it may be) but he's flat-out lost it with his game theory rant. "A good judge does not need to know logic."

...Are you kidding me?

He's got a pretty insanely strict definition of 'useful' if game theory doesn't qualify. I don't even know what it could possibly be...

5 comments:

James said...

Jeff Ely figured out what he's up to
http://cheaptalk.org/2012/06/06/dear-ariel-here-is-your-proof-that-game-theory-is-useful/

Vera L. te Velde said...

hehehe yeah I saw that; too good :) I can only hope it's true...

farmland investment said...

Interesting post. I believe game theory (or some iteration thereof) is widely used by military and intelligence agencies around the world. I know MI5 uses it, and I am certain that the CIA must as well.

jaap said...

Of course game theory is useful. You have to be careful applying equilibrium concepts to real life just because they are pretty equilibrium concepts without at least testing them in the lab, but game theoretical concepts are used all the time for all sorts of perfectly practical things. How do you think companies like Facebook and Google would design combinatorial auctions for ads without having at least a passing familiarity with combinatorial auction theory?

Vera L. te Velde said...

yeah auction theory has to be one of the most conspicuous(ly profitable) applications of game theory... I've really tried to play devil's advocate in my head on Rubinstein's behalf but I've failed miserably...