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.
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Very Well Done, man. I love your easy manner and ability to communicate complex problems in understandable forms.
Sir your videos have helped me a lot. THANK YOU!
this was really helpful, thank you
he definitely was not thinking of election of 2016 haha
@josephjasen1293
6 жыл бұрын
Mi Les lol lol
thanks so much for this
very useful!
Thanks a lot
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
R.I.P. Kenneth Arrow.
@uristrauss6106
Жыл бұрын
Although Chomsky might be the bigger winner… 66 years after Syntactic Structures and still going strong.
but if we assign the order with numerical points, things can be different?
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).
Condorcet? More like "Come on, let's play!" around with these great ideas. Thanks for sharing all of this wonderful information!
Lol, donald, marco and ted
Doesn’t it just mean that it’s all indifferent?
@BS33875
Жыл бұрын
I think too!
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
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?
This video came right after 2016 Republican debate. lol
Why not Mexican food or Cuban food? LOL
@joezhou7491
6 жыл бұрын
because he needs the first letter to be a , b , c
Donald loves china😊
Lovers of Armenian food? Or any Armenians here? :D
But democracy always prioritize minorities...