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Game Theory - Iterative Deletion and the Median-Voter Theorem
Game Theory - Iterative Deletion and the Median-Voter Theorem
Iterative Deletion. What does this mean to you. The definition states the act of repeating a process usually with the aim of approaching a desired goal or target or result. Each repetition of the process is also called an "iteration", and the results of one iteration are used as the starting point for the next iteration.
If you are asked to choose a number between 1 and 10 what number will you choose. Will you just choose a number or will you think about choosing the number strategically meaning choosing a number that will allow you to win the game, if so inclined. If you think of the numbers 1 - 10 as a measurement of a persons beliefs to the "norm" of everyone else, one being the far left and 10 being the far right, one may quickly realize that being to far to the right or left in your beliefs puts you at a disadvantage and dominated by the every other number to 5. Being in the middle, choosing the middle, or strategically knowing the middle gives you an advantage and a dominate position.
How does this idea play into being Alpha. Educated guess. Now I am not a proponent of following the crowd. I am advocate of understanding the crowd to dominate or stated mildly to get along with the crowd or to position yourself as an advantage to the crowd. Why. To win the game of course.
The idea of removing some ideas, iterations, quickly to play the game faster in a dominate position. To understand and anticipate others actions, through an educated guess is good practice.
By Benjamin Polak | Game Theory Lecture 3 of 24
Iterative Deletion. What does this mean to you. The definition states the act of repeating a process usually with the aim of approaching a desired goal or target or result. Each repetition of the process is also called an "iteration", and the results of one iteration are used as the starting point for the next iteration.
If you are asked to choose a number between 1 and 10 what number will you choose. Will you just choose a number or will you think about choosing the number strategically meaning choosing a number that will allow you to win the game, if so inclined. If you think of the numbers 1 - 10 as a measurement of a persons beliefs to the "norm" of everyone else, one being the far left and 10 being the far right, one may quickly realize that being to far to the right or left in your beliefs puts you at a disadvantage and dominated by the every other number to 5. Being in the middle, choosing the middle, or strategically knowing the middle gives you an advantage and a dominate position.
How does this idea play into being Alpha. Educated guess. Now I am not a proponent of following the crowd. I am advocate of understanding the crowd to dominate or stated mildly to get along with the crowd or to position yourself as an advantage to the crowd. Why. To win the game of course.
The idea of removing some ideas, iterations, quickly to play the game faster in a dominate position. To understand and anticipate others actions, through an educated guess is good practice.
By Benjamin Polak | Game Theory Lecture 3 of 24
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