|
Superrationality
In economics and game theory, a participant is considered to have superrationality (or renormalized rationality) if they have perfect rationality (and thus maximize their utility) but assume that all other players are superrational too and that a superrational individual will always come up with the same strategy as any other superrational thinker when facing the same problem. Applying this definition, a superrational player playing against a superrational opponent in a prisoner's dilemma will cooperate while a rationally self-interested player would defect. This decision rule is not a mainstream model within the game theory and was suggested by Douglas Hofstadter in his article, series, and book ''Metamagical Themas'' – reprinted in: as an alternative type of rational decision making different from the widely accepted game-theoretic one. Superrationality is a form of Immanuel Kant's categorical imperative, and is closely related to the concept of Kantian equilibrium proposed b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Perfect Rationality
The term ''Homo economicus'', or economic man, is the portrayal of humans as agents who are consistently rational and narrowly self-interested, and who pursue their subjectively defined ends optimally. It is a word play on ''Homo sapiens'', used in some economic theories and in pedagogy. In game theory, ''Homo economicus'' is often modelled through the assumption of perfect rationality. It assumes that agents always act in a way that maximize utility as a consumer and profit as a producer, and are capable of arbitrarily complex deductions towards that end. They will always be capable of thinking through all possible outcomes and choosing that course of action which will result in the best possible result. The rationality implied in ''Homo economicus'' does not restrict what sort of preferences are admissible. Only naive applications of the ''Homo economicus'' model assume that agents know what is best for their long-term physical and mental health. For example, an agent's u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Perfect Rationality
The term ''Homo economicus'', or economic man, is the portrayal of humans as agents who are consistently rational and narrowly self-interested, and who pursue their subjectively defined ends optimally. It is a word play on ''Homo sapiens'', used in some economic theories and in pedagogy. In game theory, ''Homo economicus'' is often modelled through the assumption of perfect rationality. It assumes that agents always act in a way that maximize utility as a consumer and profit as a producer, and are capable of arbitrarily complex deductions towards that end. They will always be capable of thinking through all possible outcomes and choosing that course of action which will result in the best possible result. The rationality implied in ''Homo economicus'' does not restrict what sort of preferences are admissible. Only naive applications of the ''Homo economicus'' model assume that agents know what is best for their long-term physical and mental health. For example, an agent's u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Douglas Hofstadter
Douglas Richard Hofstadter (born February 15, 1945) is an American scholar of cognitive science, physics, and comparative literature whose research includes concepts such as the sense of self in relation to the external world, consciousness, analogy-making, artistic creation, literary translation, and discovery in mathematics and physics. His 1979 book '' Gödel, Escher, Bach: An Eternal Golden Braid'' won both the Pulitzer Prize for general nonfiction"General Nonfiction" . ''Past winners and finalists by category''. The Pulitzer Prizes. Retrieved March 17, 2012. and a (at that time called The American Book Award) for Science. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Evidential Decision Theory
Evidential decision theory (EDT) is a school of thought within decision theory which states that, when a rational agent is confronted with a set of possible actions, one should select the action with the highest ''news value'', that is, the action which would be indicative of the best outcome in expectation if one received the "news" that it had been taken. In other words, it recommends to "do what you most want to learn that you will do." EDT contrasts with causal decision theory (CDT), which prescribes taking the action that will causally produce the best outcome. While these two theories agree in many cases, they give different verdicts in certain philosophical thought experiments. For example, EDT prescribes taking only one box in Newcomb's paradox, while CDT recommends taking both boxes. Formal description In a 1976 paper, Allan Gibbard and William Harper distinguished between two kinds of expected utility maximization. EDT proposes to maximize the expected utility of actions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Platonia Dilemma
In the platonia dilemma introduced in Douglas Hofstadter's book ''Metamagical Themas'', an eccentric trillionaire gathers 20 people together, and tells them that if one and only one of them sends them a telegram (reverse charges) by noon the next day, that person will receive a billion dollars. If they receive more than one telegram, or none at all, no one will get any money, and cooperation between players is forbidden. In this situation, the superrational thing to do is to send a telegram with probability 1/20. Luring Lottery A similar game, referred to as a "Luring Lottery", was actually played by the editors of ''Scientific American'' in the 1980s. – reprinted in: To enter the contest once, readers had to send in a postcard with the number "1" written on it. They were also explicitly permitted to submit as many entries as they wished by sending in a single postcard bearing the number of entries they wished to submit. The prize was one million dollars divided by the total n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Magical Thinking
Magical thinking, or superstitious thinking, is the belief that unrelated events are causally connected despite the absence of any plausible causal link between them, particularly as a result of supernatural effects. Examples include the idea that personal thoughts can influence the external world without acting on them, or that objects must be causally connected if they resemble each other or have come into contact with each other in the past. Magical thinking is a type of fallacious thinking and is a common source of invalid causal inferences. Unlike the confusion of correlation with causation, magical thinking does not require the events to be correlated. The precise definition of magical thinking may vary subtly when used by different theorists or among different fields of study. In anthropology (the earliest research), the posited causality is between religious ritual, prayer, sacrifice, or the observance of a taboo, and an expected benefit or recompense. Later research indi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prisoner's Dilemma
The Prisoner's Dilemma is an example of a game analyzed in game theory. It is also a thought experiment that challenges two completely rational agents to a dilemma: cooperate with their partner for mutual reward, or betray their partner ("defect") for individual reward. This dilemma was originally framed by Merrill Flood and Melvin Dresher while working at RAND in 1950. Albert W. Tucker appropriated the game and formalized it by structuring the rewards in terms of prison sentences and named it "prisoner's dilemma". William Poundstone in his 1993 book ''Prisoner's Dilemma'' writes the following version:Two members of a criminal gang are arrested and imprisoned. Each prisoner is in solitary confinement with no means of speaking to or exchanging messages with the other. The police admit they don't have enough evidence to convict the pair on the principal charge. They plan to sentence both to two years in prison on a lesser charge. Simultaneously, the police offer each prisoner a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Newcomb's Problem
In philosophy and mathematics, Newcomb's paradox, also known as Newcomb's problem, is a thought experiment involving a game between two players, one of whom is able to predict the future. Newcomb's paradox was created by William Newcomb of the University of California's Lawrence Livermore Laboratory. However, it was first analyzed in a philosophy paper by Robert Nozick in 1969 and appeared in the March 1973 issue of ''Scientific American'', in Martin Gardner's "Mathematical Games". Reprinted with an addendum and annotated bibliography in his book ''The Colossal Book of Mathematics'' (). Today it is a much debated problem in the philosophical branch of decision theory. The problem There is a reliable predictor, another player, and two boxes designated A and B. The player is given a choice between taking only box B or taking both boxes A and B. The player knows the following: * Box A is transparent and always contains a visible $1,000. * Box B is opaque, and its content has alrea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moral Realism
Moral realism (also ethical realism) is the position that ethical sentences express propositions that refer to objective features of the world (that is, features independent of subjective opinion), some of which may be true to the extent that they report those features accurately. This makes moral realism a non-nihilist form of ethical cognitivism (which accepts that ethical sentences express propositions and can therefore be evaluated as true or false) with an ontological orientation, standing in opposition to all forms of moral anti-realism and moral skepticism, including ethical subjectivism (which denies that moral propositions refer to objective facts), error theory (which denies that any moral propositions are true); and non-cognitivism (which denies that moral sentences express propositions at all). Within moral realism, the two main subdivisions are ethical naturalism and ethical non-naturalism. Many philosophers claim that moral realism may be dated back at least to Plato ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Instrumental Convergence
Instrumental convergence is the hypothetical tendency for most sufficiently intelligent beings (both human and non-human) to pursue similar sub-goals, even if their ultimate goals are quite different. More precisely, agents (beings with agency) may pursue instrumental goals—goals which are made in pursuit of some particular end, but are not the end goals themselves—without end, provided that their ultimate (intrinsic) goals may never be fully satisfied. Instrumental convergence posits that an intelligent agent with unbounded but apparently harmless goals can act in surprisingly harmful ways. For example, a computer with the sole, unconstrained goal of solving an incredibly difficult mathematics problem like the Riemann hypothesis could attempt to turn the entire Earth into one giant computer in an effort to increase its computational power so that it can succeed in its calculations. Proposed basic AI drives include utility function or goal-content integrity, self-protection, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dominant Strategy
In game theory, strategic dominance (commonly called simply dominance) occurs when one strategy is better than another strategy for one player, no matter how that player's opponents may play. Many simple games can be solved using dominance. The opposite, intransitivity, occurs in games where one strategy may be better or worse than another strategy for one player, depending on how the player's opponents may play. Terminology When a player tries to choose the "best" strategy among a multitude of options, that player may compare two strategies A and B to see which one is better. The result of the comparison is one of: * B is equivalent to A: choosing B always gives the same outcome as choosing A, no matter what the other players do. * B strictly dominates A: choosing B always gives a better outcome than choosing A, no matter what the other players do. * B weakly dominates A: choosing B always gives at least as good an outcome as choosing A, no matter what the other players do, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
