4 ms·
Zero-sum in wealth, but not zero-sum in utility. Otherwise, people wouldn't trade at all.
by vecter 6y ago
Zero-sum in wealth, but not zero-sum in utility. Otherwise, people wouldn't trade at all.
- buzzkillington 6y agoThat's not true, it just needs to cost you more to not play than it does to play. Something like: | | Play | Don't Play | |------------+------+------------| | Play | -5 | +10 | | Don't Play | -10 | 0 |
- nuclearnice1 6y agoYour payoffs are not zero sum. > In game theory and economic theory, a zero-sum game is a mathematical representation of a situation in which each participant's gain or loss of utility is exactly balanced by the losses or gains of the utility of the other participants.
- buzzkillington 6y agoYes? The point is that no one playing has the highest payout for the group[1]. [1] You can change the +10 to +9 if you want to make it the absolute highest total payout.
- nuclearnice1 6y agoSorry I don’t follow. Can you elaborate?