Wspaniel, A. (2021, January 15). Blog – game theory 101. Game Theory 101. http://gametheory101.com/blog/
This blog is looking at various different examples of game theory when applied to the real world. A couple of posts really stood out to me, the first was about the Median Voter Theorem, which was saying that voters tend to vote to who ever they are closest to ideologically. From there, the post explained that in the most recent election, since Biden was the most centrally leaning candidate, and Sanders’s policies are even further to the left than Trump’s policies are to the right, Biden had a better chance of winning than Sanders.
The second article was looking at the power of proposing ideas, and how in the absence of a option to propose alternatives, then the main power of negotiation is in the person who proposes the idea, rather than the person who has to accept or reject.
- I learned about Median Voter Theorem and the Bargaining power. I didn’t know as much about these representation, which was interesting for me to see game theory being applied to specific strategic interactions.
I chose to add this to the content collection because it shows different scenarios of game theory in the real world, and explains the logic of the scenarios rather than just the math of the situations.
Spencer Hight 