Game Theory 101 (#46): Condorcet's Paradox and Social Preferences

gametheory101.com/courses/game-theory-101/
It makes perfect sense for an individual's preferences to be rational. But when we try to aggregate rational preferences together, the resulting group preference may be irrational. This problem is endemic to social preferences and thereby limits expected utility theory's application.

Пікірлер: 32

  • @kevinnancipetit8875
    @kevinnancipetit88758 жыл бұрын

    Very Well Done, man. I love your easy manner and ability to communicate complex problems in understandable forms.

  • @anthonyayeke7750
    @anthonyayeke77503 жыл бұрын

    Sir your videos have helped me a lot. THANK YOU!

  • @creamcheese017
    @creamcheese0176 жыл бұрын

    this was really helpful, thank you

  • @duckymomo7935
    @duckymomo79358 жыл бұрын

    he definitely was not thinking of election of 2016 haha

  • @josephjasen1293

    @josephjasen1293

    6 жыл бұрын

    Mi Les lol lol

  • @santanakamal7934
    @santanakamal7934 Жыл бұрын

    thanks so much for this

  • @welearnbetter7466
    @welearnbetter74663 жыл бұрын

    very useful!

  • @thekingprajna
    @thekingprajna5 жыл бұрын

    Thanks a lot

  • @HistoryTwistChronicles
    @HistoryTwistChronicles4 ай бұрын

    What if we count in how much he prefers A to C? So if someone's ordering is A>B>C than his vote between A and C worths 2 while someone's who has his ordering as B>A>C his vote worths 1 because he barely likes A more than C. If we calculate using this method we will get that the group is indifferent between all of these choises which is a logical. I just solved this mystery that no game theorist could

  • @uristrauss6106
    @uristrauss6106 Жыл бұрын

    R.I.P. Kenneth Arrow.

  • @uristrauss6106

    @uristrauss6106

    Жыл бұрын

    Although Chomsky might be the bigger winner… 66 years after Syntactic Structures and still going strong.

  • @BS33875
    @BS33875 Жыл бұрын

    but if we assign the order with numerical points, things can be different?

  • @NaliTikva
    @NaliTikva2 жыл бұрын

    Okay now i'm currious, can't you just assign utility first (to the indivdual preferences) then add all the utility togegether? Like you might get up with weak preferences (although if you have a big group of people and choices this will be unlikely).

  • @PunmasterSTP
    @PunmasterSTP2 жыл бұрын

    Condorcet? More like "Come on, let's play!" around with these great ideas. Thanks for sharing all of this wonderful information!

  • @Davidgon100
    @Davidgon1007 жыл бұрын

    Lol, donald, marco and ted

  • @kaioxys
    @kaioxys2 жыл бұрын

    Doesn’t it just mean that it’s all indifferent?

  • @BS33875

    @BS33875

    Жыл бұрын

    I think too!

  • @carl6167
    @carl61675 жыл бұрын

    Why isn't the dictator function good ? The Group preference is that of the dictator... If the dictator is rational, the social function is also rational ^^

  • @Suav58

    @Suav58

    Жыл бұрын

    The "solution concept" of a "benevolent dictator" goes certainly into antiquity and comes back with Leviathan of Hobbes. My understanding is, that there are two concepts of a dictator. The first one is the usual king, emperor or consul. The second one is an emergent individual, which decides the "complete list of preferences"; it does not govern - it dictates only the list of preferences. Think about it, what you may. Both concepts are somehow naïve, as neither of the individuals acts in isolation from a society. The "rational choice" together with its four "axioms" is no less. Why should our brain run decision processes in such a way, that it never falls into cycles of preferences, while we have proves on both social and atomic level of such cycles? (albeit possibly very long - take the Monster Group). Contrary to what was said in the previous clip, I treat rationality as not only having a list, but being able to perform an effective search on the list and here we enter territory of algorithmic game theory and ML. Does ML exhibit (let it be in the training phase) cyclic preferences?

  • @assessreasonrespect.5353
    @assessreasonrespect.53533 жыл бұрын

    This video came right after 2016 Republican debate. lol

  • @starrychloe
    @starrychloe8 жыл бұрын

    Why not Mexican food or Cuban food? LOL

  • @joezhou7491

    @joezhou7491

    6 жыл бұрын

    because he needs the first letter to be a , b , c

  • @mariohanzek712
    @mariohanzek7122 ай бұрын

    Donald loves china😊

  • @vachikkhachatryan889
    @vachikkhachatryan8894 жыл бұрын

    Lovers of Armenian food? Or any Armenians here? :D

  • @jhonny3099
    @jhonny3099 Жыл бұрын

    But democracy always prioritize minorities...