“a priori” thinking

Nobel prize–winner and game theory pioneer Reinhard Selten observed that people work diligently to be rational ex post. That is, we commonly look back at how a situation played out to try and understand how a better outcome might have been achieved. This contrasts with a game theory approach in which the goal is to develop a strategy that will lead to that better outcome a priori.

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Published by

Shafiq Alibhai

http://shafiq.in

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