Most Billionaires Have THIS Degree

Jon Law
431 followers
465 Video Views·Oct 11, 2024
School or not?
Game theory is really the art of decision-making and the art of strategy of it in a very mathematical and very scientific
manner and once you get into the math of it, there are not many
overlays into reality at the individual level, right? I could give you a thousand examples of games where players make X amount of decisions
and sure, that's the rational decision, that's the rational outcome, but that doesn't impact how you should act as an individual.
That doesn't impact the decisions you should be making or how you should be even approaching decision-making.
But what's really interesting about game theory is that the number one degree held by billionaires isn't computer science,
it's economics, right? And that understanding how
monetary systems work is really just valuable in
approaching the game of money really, in the game of wealth and work and output and so on. And in a similar sense, game theory is
economics
except strip it of the money and now you have
decisions, you have individuals.
And game theory really is central to economics in that sense because it asks the question of, okay,
you are in a game, you are in a market, right? There are different players, there are different things you can do, there are payoffs,
what decision should you make? Economics is the monetary branch of that in a sense, but game theory strips that down to its core of
okay, well, I need to make a decision, what kind of decisions should I make? And then
what kind of decisions are other people going to make, right? That is the concept of kind of an equilibrium.
