Game Theory
Game theory analyzes specific decision making in situations where multiple parties are involved. In this video Game Theory by Veritasium, a very detailed explanation of the dynamics of Game Theory was given.Â
It describes how the Game theory affects the universe and certain structures in life, using a classic example of the Prisoner’s Dilemma and its connection to real world scenarios.Â
The Prisoner Dilemma is a game used in cases where two people are arrested for a crime, and are questioned separately. They are offered a deal to confess, by betraying each other or if they chose to stay silent, the deal is off.Â
This game was used similarly in the Cold War between the US, and the Soviet Union, both countries felt each other were creating nuclear weapons and in a bid to outsmart the other, ended up in an arms race. Game theory introduces a tit-for-tat strategy, where one person imitates the other person's last move and the video argues that this is a perfect strategy to promote cooperation between opponents.Â
By watching this video, you get to learn further about how Game theory affects the universe, life and its implications.
