Game Theory Secrets for Parents
Based on what we learned from the class; in essence, game theory is a universal strategy to make a better decision due to our each individual’s utility function/happiness; it’s a rational decision making about how to maximize our own profits based on assuming what others’ rational decision making.
We all know that decision making comes with cost, then we have to think rationally. However, the interesting thing is that we may apply those knowledge to those who might “not-always-rational”, especially children. According to this article, it’s interesting to apply the knowledge of “Game theory” on kids, who are might be immature or irrational to make decision. However, the parent still can use tricks to get the children to be obedient. On of the example from the article is when the most of kids refuse to eat healthy food if the parent the parent ask them to eat all. Yet if parents put four different food on the plate, his son would probably eats two. As a result, his son would probably thinks he wins the negation with his parent by eating less, which is his payoff as well. For the parent, the payoff would be letting the kid be healthier.
In another example, the parent should turn off the television immediately even it punishes himself too; the reason to do this is to earn the authority and credibility presenting in front of our kids in the future.(in the long run) So the next time when parent ask kids to do something else, their son would spring into action once the parent tell them to do something right. In conclusion, we might be rational enough to assume others’ perspective, but however, we still need to make a better choice for ourselves then effect others. Therefore, the parenting of game theory is good example to think of applying the strategy of game theory for daily routine.
Sources: http://online.wsj.com/articles/game-theory-secrets-for-parents-1405005848