Tag: #EconomicBehavior
-
“don’t hate the players, change the game” – The dark side of competition in AI
Competition. It’s a fundamental part of human nature. […] When it’s done right, it can drive us to incredible feats in sports and innovation, […] healthy competition, because even though individual companies might come and go, in the long run, the game between them creates win-win outcomes where everyone benefits in the end. But sometimes…
-
EXplore-versus-EXploit problems
Trade-offs between producing costly movements for gathering information (‘explore’) and using previously acquired information to achieve a goal (‘exploit’) arise in a wide variety of problems, including foraging, reinforcement learning and sensorimotor control. Determining the optimal balance between exploration and exploitation is computationally intractable, necessitating heuristic solutions. In “Mode switching in organisms for solving explore-versus-exploit…
-
How Capitalism WASTES Billions
Mariana Mazzucato’s Tour De Force Professor Mariana Mazzucato is one of the world’s most exciting economic thinkers.Her new book – THE BIG CON – exposes how consultancy firms are eating up billions upon billions of pounds working on government projects and using the capitalism game-rules. You won’t think of our economic system the same way…
-
The evolution of universal cooperation
Humans work together in groups to tackle shared problems and contribute to local club goods that benefit other group members. Whereas benefits from club goods remain group bound, groups are often nested in overarching collectives that face shared problems like pandemics or climate change. Such challenges require individuals to cooperate across group boundaries, raising the…
