Jaynes, subjective probability, and the thinking machine.
"Game Theory proves that rational utility maximizers necessarily act randomly."
Can humans generate random numbers without tools, though? Isn't it a too strong assumption to make?
Yes, I agree. Hence, when von Neumann and Morgenstern proved that rational actors had to be random, the game should have been up. And yet...
"Game Theory proves that rational utility maximizers necessarily act randomly."
Can humans generate random numbers without tools, though? Isn't it a too strong assumption to make?
Yes, I agree. Hence, when von Neumann and Morgenstern proved that rational actors had to be random, the game should have been up. And yet...