Game theory

Homo economicus

The term Homo economicus, or economic man, is the portrayal of humans as agents who are consistently rational and narrowly self-interested, and who pursue their subjectively defined ends optimally. It is a word play on Homo sapiens, used in some economic theories and in pedagogy. In game theory, Homo economicus is often modelled through the assumption of perfect rationality. It assumes that agents always act in a way that maximize utility as a consumer and profit as a producer, and are capable of arbitrarily complex deductions towards that end. They will always be capable of thinking through all possible outcomes and choosing that course of action which will result in the best possible result. The rationality implied in Homo economicus does not restrict what sort of preferences are admissible. Only naive applications of the Homo economicus model assume that agents know what is best for their long-term physical and mental health. For example, an agent's utility function could be linked to the perceived utility of other agents (such as one's husband or children), making Homo economicus compatible with other models such as Homo reciprocans, which emphasizes human cooperation. As a theory on human conduct, it contrasts to the concepts of behavioral economics, which examines cognitive biases and other irrationalities, and to bounded rationality, which assumes that practical elements such as cognitive and time limitations restrict the rationality of agents. (Wikipedia).

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Homophily Solution - Intro to Algorithms

This video is part of an online course, Intro to Algorithms. Check out the course here: https://www.udacity.com/course/cs215.

From playlist Introduction to Algorithms

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Homophily - Intro to Algorithms

This video is part of an online course, Intro to Algorithms. Check out the course here: https://www.udacity.com/course/cs215.

From playlist Introduction to Algorithms

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Introduction to Homotopy Theory- PART 1: UNIVERSAL CONSTRUCTIONS

The goal of this series is to develop homotopy theory from a categorical perspective, alongside the theory of model categories. We do this with the hope of eventually developing stable homotopy theory, a personal goal a passion of mine. I'm going to follow nLab's notes, but I hope to add t

From playlist Introduction to Homotopy Theory

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Homotopy type theory: working invariantly in homotopy theory -Guillaume Brunerie

Short talks by postdoctoral members Topic: Homotopy type theory: working invariantly in homotopy theory Speaker: Guillaume Brunerie Affiliation: Member, School of Mathematics Date: September 26, 2017 For more videos, please visit http://video.ias.edu

From playlist Mathematics

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Homotopy Group - (1)Dan Licata, (2)Guillaume Brunerie, (3)Peter Lumsdaine

(1)Carnegie Mellon Univ.; Member, School of Math, (2)School of Math., IAS, (3)Dalhousie Univ.; Member, School of Math April 11, 2013 In this general survey talk, we will describe an approach to doing homotopy theory within Univalent Foundations. Whereas classical homotopy theory may be des

From playlist Mathematics

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Panorama of Mathematics: Jörgen W. Weibull

Panorama of Mathematics To celebrate the tenth year of successful progression of our cluster of excellence we organized the conference "Panorama of Mathematics" from October 21-23, 2015. It outlined new trends, results, and challenges in mathematical sciences. Jörgen W. Weibull: "Evoluti

From playlist Panorama of Mathematics

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Science Bulletins: Rare Skull Sparks Debate About Our Ancient Relatives

An Asian dig site has yielded fossils of some of our earliest ancestors found outside of Africa. When scientists unearthed five skulls dating to the same period, questions arose over how much individual specimens can vary and still belong to the same species. The skulls all represent Homo

From playlist Science Bulletins

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Economics Makes You Selfish?- Econ in Real Life

Thank you so muych for watching my videos. In this video I explore some arguments regarding why economics makes people selfish. I inlcuded several artciles about the subject below. Please feel free to read them over and let me know if you agree or disagree. Obviously, I pretty biased since

From playlist Econ in Real Life

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Homomorphisms in abstract algebra

In this video we add some more definition to our toolbox before we go any further in our study into group theory and abstract algebra. The definition at hand is the homomorphism. A homomorphism is a function that maps the elements for one group to another whilst maintaining their structu

From playlist Abstract algebra

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Is There an Alternative to Political Correctness?

Political correctness aims for some very nice results, but its means have a habit of upsetting a lot of people. Might there be an alternative to it? We think there is, and it’s called Politeness. If you like our films, take a look at our shop (we ship worldwide): https://goo.gl/iVqWJ1 Joi

From playlist WORK + CAPITALISM

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S4:E2: Wellbeing is the Goal with Prof. Frank Schilbach

Episode Summary: MIT Prof. Frank Schilbach helps us reframe our traditional understanding of economics. Episode Notes: Do you always make the best possible choices, even when you’re stressed or short on sleep? The ideally rational person (“Homo economicus”) assumed by conventional economi

From playlist Chalk Radio Podcast

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What is bounded rationality?

The term “bounded rationality” was introduced by Nobel laureate Herbert Simon who asked, how do human beings reason when the conditions for rationality postulated by neoclassical economics theory are not met?” In this talk at the Summer Institute for Bounded Rationality 2014, Gerd Gigerenz

From playlist Most popular videos

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Does Altruism Exist?

“Because it’s there” was George Mallory’s famous explanation for why he risked (and lost) his life trying to become the first person to summit Everest. We don’t all want to climb Everest, but we all, to some degree, take risks. Why does this behavior survive natural selection? What’s going

From playlist Risky Business: The Evolution of Dangerous Behavior

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Artificial Stupidity: The New AI and the Future of Fintech

Andrew W. Lo (Massachusetts Institute of Technology) Theoretically Speaking Series, Fall 2019 https://simons.berkeley.edu/events/andrewlo

From playlist AI talks

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Dirk Helbing: Economics 2.0

At the Vision in Science Conference 2013 in Dresden Dirk Helbing from the ETH Zurich compares our modern world with the world's greatest civilisations. By using traffic as an example, he talks about the predictability of human decisions. He shows how communication and information systems c

From playlist Most popular videos

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Homomorphisms (Abstract Algebra)

A homomorphism is a function between two groups. It's a way to compare two groups for structural similarities. Homomorphisms are a powerful tool for studying and cataloging groups. Be sure to subscribe so you don't miss new lessons from Socratica: http://bit.ly/1ixuu9W ♦♦♦♦♦♦♦♦♦♦ W

From playlist Abstract Algebra

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Is YouTube Like the Printing Press?

Does YouTube shape YouTubers, or do YouTubers shape YouTube? And can we compare the Internet to the printing press without doing bad history? Subscribe! http://tinyurl.com/pr99a46 Patreon: http://www.patreon.com/PhilosophyTube Paypal.me/PhilosophyTube Audible: http://tinyurl.com/jn6tpu

From playlist The Philosophy of YouTube

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Machiavelli's Mistake

Samuel Bowles, Research Professor at the Santa Fe Institute and Professor of Economics at the University of Siena, gave three public lectures where he presented evidence that explicit incentives and constraints often diminish ethical motivations. This is the third lecture of a three-part

From playlist Ethics, Politics and Economics

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Unamuno

Lecture 13, Unamuno, of UGS 303, Ideas of the Twentieth Century, at the University of Texas at Austin, Fall 2013

From playlist UT Austin: UGS 303 Political Philosophy - Ideas of the 20th Century | CosmoLearning.org Philosophy

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Homotopy

Homotopy elements in the homotopy group π₂(S²) ≅ ℤ. Roman Gassmann and Tabea Méndez suggested some improvements to my original ideas.

From playlist Algebraic Topology

Related pages

Optimal decision | Uncertainty | Léon Walras | Behavioral economics | Agent (economics) | Decision theory | Superrationality | Game theory | Rational agent | Utility maximization problem | Rational pricing | Bounded rationality