The world of game theory is currently on fire. In May, Freeman Dyson at Princeton University and William Press at the University of Texas announced that they had discovered a previously unknown strategy for the game of prisoner's dilemma which guarantees one player a better outcome than the other.
That's a monumental surprise. Theorists have studied Prisoner's Dilemma for decades, using it as a model for the emergence of co-operation in nature. This work has had a profound impact on disciplines such as economics, evolutionary biology and, of course, game theory itself. The new result will have impact in all these areas and more.
LeopoldS on 06 Nov 12interesting stuff ... I like this quote "When a man tells you about the time he planned to put a vegetable garden on Mars, you worry about his mental state. But if that same man has since launched multiple rockets that are actually capable of reaching Mars-sending them into orbit, Bond-style, from a tiny island in the Pacific-you need to find another diagnosis. That's the thing about extreme entrepreneurialism: There's a fine line between madness and genius, and you need a little bit of both to really change the world. All entrepreneurs have an aptitude for risk, but more important than that is their capacity for self-delusion. Indeed, psychological investigations have found that entrepreneurs aren't more risk-tolerant than non-entrepreneurs. They just have an extraordinary ability to believe in their own visions, so much so that they think what they're embarking on isn't really that risky. They're wrong, of course, but without the ability to be so wrong-to willfully ignore all those naysayers and all that evidence to the contrary-no one would possess the necessary audacity to start something radically new."
