Showing posts from November, 2018

Idealism Matters – Making The World Better With Game Theory

  Perhaps one of the most interesting parts of trying to clean up the environment is the need to balance individual action with global behavior. Actions that are optimal at the individual level are often what lead to depletion of resources and environmental damage at the global or regional scale. Take climate change for example – even though the effects of a changing climate promise to be devastating to many countries and places around the world, it has often worked better for countries to focus on their short-term economic goals rather than look at what would work best for the economy and environment in the long term. A  recent approach  from scientists at Georgia Tech looks at how game theory can be used to help solve this problem. An assumption inherent in how many environmental policies and markets are designed is that actors will act rationally in their own interest and that the system doesn’t change drastically. Now, this is an assumption that doesn’t necessarily hold true in man