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Game Theory 
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 Game Theory
Is Game Theory science or philosophy?



Wed Jun 10, 2015 1:58 pm
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Post Re: Game Theory
False dichotomy.


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Wed Jun 10, 2015 2:29 pm
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Post Re: Game Theory
That was text book of you, Geo!

The dilemma is actually self imposed though.
I'm not forcing you to choose one or the other.
You're certainly welcome to elaborate.


Okay - fine.

If game theory is applied to social science, does that make it science?
As a science, what's its predictive power?



Wed Jun 10, 2015 2:43 pm
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Post Re: Game Theory
ant wrote:
As a science, what's its predictive power?


There are game theoretic models for many areas, from politics to economics to biology. The models have some predictive power, but human decision making is too complex to accurately model.

Most models revolve around attaining some measure of equilibrium, and the strategies to achieve equilibrium give the model it's predictive ability.

See the Cournot duopoly for an example.


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Wed Jun 10, 2015 3:56 pm
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Post Re: Game Theory
Quote:
The models have some predictive power, but human decision making is too complex to accurately model.


:goodpost:



Wed Jun 10, 2015 6:25 pm
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