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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."

3 of 421 comments (clear)

  1. another intersection of CS and econ by WhiteDragon · · Score: 5, Interesting

    Here's a proof that detecting "toxic assets" is impossible (or at least NP)

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    Did you mount a military-grade, variable-focus MASER on an unlicensed artificial intelligence?
  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. 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"?