Nash Equilibriums II

 

Auld Lang Syne

For auld lang syne, my dear
For auld lang syne
We'll take a cup of kindness yet
For auld lang syne.

https://www.youtube.com/watch?v=lxNXtjGY_Us

To Joe Biden, the Richest Man in town!

During yesterday’s address by President Biden from the Oval Office, I could not get the ending to It’s A Wonderful Life out of my head.  I was watching it unfold in real time.  Mathematician John Nash defined a User Optimal solution, of doing the best for yourself as described by Adam Smith, as incomplete.  He did not say, but the System Optimal solution, of doing the best for the common good as described by Karl Marx, is also incomplete.  In order for individual users to act as a system they should follow neither a User Optimal nor a System Optimal solution.  Instead they should follow a solution which he described as the best for the user AND the best for the common good. This is nothing new.  The author T.H. White would describe King Arthur’s  Round Table as “Might For Right, not Might Makes Right”.  Knute  Rockne might describe it as “Taking one for the Team.”  Charles Dicken would describe it as “A far, far better thing.”  The mathematical solution has been given the name as a Nash Equilibrium.  I would like to propose that after yesterday’s speech it be henceforth be described as a Biden Equilibrium.  Let’s raise a toast to Joe Biden, a far greater President than we might have ever realized. Thank you Joe, for Making America Great Again, by looking ahead.  And with Kamala, we are NOT going back!