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Help my understanding: is this really an example of game theory? I thought that game theory was about making decisions in which your success depends on the cho
by jonp 16y ago
Help my understanding: is this really an example of game theory?
I thought that game theory was about making decisions in which your success depends on the choices of others.
In the original secretary/dowry problem the values of your choices are random. In this case the gas prices aren't random but the strategy doesn't depend on considering the choices made by the gas station owners in setting those prices.
So while it's a nice solution (and one I've used myself when looking for an apartment) it doesn't seem to me to be an example of game theory.
- notauser 16y agoNot to mention that gas stations in a small region (especially a small town) are playing their own game which will probably tend to equalize prices between the stations. I haven't seem gas stations with a 60c/gal(!) difference that are a reasonable distance apart. Between Boston and Lexington? Sure it might be 60c cheaper, but that's almost 20 miles which would wipe out your savings and it has more to with city vs country which is predictable and doesn't require a game theory solution if you happen to be going that way.