You are viewing a single comment's thread from:

RE: Is Steem paying for Groupthink? The Game Theory of Steem, Part 3

in #money8 years ago

One reason we may be skeptical of the simplified puppies/kittens example is that I think you are alluding to a simultaneous Nash equilibrium, whereas with Steemit people will vote at different stages, so we have to account for the aspect of taking turns and time element. Steemit is full of 'sub-games' like the one you describe between Puppies and Kittens where previous actions affect immediate and future payoffs.

Also, the Nash Equilibrium can be deduced but people are not always rational decision makers. People tend to have 'bounded rationality' so with the mass of information on Steemit they may not vote optimally.

Sort:  

Yep, agreed on all counts. I'm glad you brought up the bounded rationality thing; in fact that may be the topic of my next article because it's such a natural extension here. K-level reasoning and all that.

At first glance, I think the "vote-with-the-crowd" result will still hold up - even when we take bounded rationality and game timing into account. We shall see...

Coin Marketplace

STEEM 0.20
TRX 0.14
JST 0.030
BTC 68125.63
ETH 3308.80
USDT 1.00
SBD 2.74