Who Knew We Use Game Theory In Everyday Life?
I found this article to be very interesting and relatable. When I’m taking a test, and I don’t know the answer to a question, I find myself trying to make an educated guess. I don’t really think about it too much except I am probably going to get this wrong so it can’t hurt to take my best guess. I’m sure everyone does this on a test; it’s just a natural response. Now, you don’t want to just take any guess, so you start by eliminating the ones you know are wrong or look way off. Then you look for any common trends between the answers and pick the answer that resembles the most. In the example in the article, 16π was the obvious choice, because the two common trends among the choices were: 1. Having π in the answer and 2. The number 16. Although most answer choices aren’t always this obvious, but that’s the how the process typically works.
Its crazy to think that little things you do in everyday life, like making an educated guess on a test, require the process of game theory. Even though they require some form of game theory, chances are you may not realize you are using it. Other examples of using game theory to make a decision in everyday life is when to change lanes in traffic, when to ask for something, or even when to wash the dishes. Although the aspect of game theory is more apparent in some examples compared to others, there is still an aspect of it in most decisions we make. We are constantly thinking about whether the benefits outweigh the costs or what to do and when to do it, which will result in the highest benefits.
Now every time I find myself trying to make a decision, I try to relate it to game theory and find which results will benefit me the most.
Sources:
https://jnlnet.wordpress.com/2008/12/18/game-theory-in-everyday-life/