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What Computer Science Can Teach Economics

Posted by ScuttleMonkey on from the just-build-better-computers dept.

eldavojohn writes "A new award-winning thesis from an MIT computer science assistant professor showed that the Nash equilibrium of complex games (like the economy or poker) belong to problems with non-deterministic polynomial (NP) complexity (more specifically PPAD complexity, a subset of TFNP problems which is a subset of FNP problems which is a subset of NP problems). More importantly there should be a single solution for one problem that can be adapted to fit all the other problems. Meaning if you can generalize the solution to poker, you have the ability to discover the Nash equilibrium of the economy. Some computer scientists are calling this the biggest development in game theory in a decade."

10 of 421 comments (clear)

  1. Reads like string theory by Anonymous Coward · · Score: 1, Funny

    Biggest development in a decade! We haven't figured out how yet though!

    1. Re:Reads like string theory by Mr2cents · · Score: 2, Funny

      If all else fails, at least we can still exchange a few funny stories about crashes...

      --
      "It's too bad that stupidity isn't painful." - Anton LaVey
  2. Its easy! by Monkeedude1212 · · Score: 5, Funny

    Meaning if you can generalize the solution to poker, you have the ability to discover the Nash equilibrium of the economy

    The general solution to poker is to end the game with everyone elses money to make yourself richer. Some people have already applied this strategy to the economy.

  3. Re:Obligatory by at_slashdot · · Score: 3, Funny

    I think that Stalin said that this problem is fixable...

    --
    "It is our choices, Harry, that show what we truly are, far more than our abilities." -- Prof. Dumbledore
  4. Wikipedia's Altered Theory of Computation by Halotron1 · · Score: 3, Funny

    Now would be a GREAT time to go alter the wikipedia articles on NP completeness and such, then watch the aftermath on slashdot as the n00bs go do their research and learn what it is for the first time!

  5. Nice setup by istartedi · · Score: 5, Funny

    What can CS teach ECON?

    How to crash routinely and have people shrug it off as normal.

    --
    For all intensive purposes, "whom" is no longer a word. That begs the question, "who cares"?
  6. Re:No shit by Anonymous Coward · · Score: 1, Funny

    I didn't understand the soccer analogy anyway.

    Do you have a car one?

  7. Re:So, this economist and... by L4t3r4lu5 · · Score: 2, Funny

    I think you mean "... and these 5 girls walk past..."

    --
    Finally had enough. Come see us over at https://soylentnews.org/
  8. Re:Fail to see the big deal by pjt33 · · Score: 3, Funny

    Proof by obviousness isn't accepted by most peer-reviewed journals.

  9. WoW! by hesaigo999ca · · Score: 2, Funny

    I would love to see how this might be able to harness me some more gold while farming on WoW!