107 sats \ 2 replies \ @Rothbardian_fanatic 14 Oct \ on: Game Theory with Ben Polak Education
This partially explains how humans act. Praxeology may be another way to explain all situations, not just strategic situations. Game theory is fine if you only use mathematics to describe human action, but not so accurate.
I will look at them, however, from an Austrian viewpoint. I really am overly tired of professors and college classes, Been there, done that, from both sides of the podium.
I think to understand the system one is trying to change, it is important to understand it well and deeply. I am not at that stage yet. Lots of Bitcoiners can't say more than "inflation is bad" and "money-printer go brrr", but don't understand all the nuances that come with it in the complex system based on human behavior that is the economy.
Game theory is fine if you only use mathematics to describe human action, but not so accurate.
Understanding the math will make it easier to get into human action afterwards, at least for me.
This may indeed be too basic for you. I haven't started watching it myself yet.
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No, this is not too basic for me, in fact it is something I have never studied. My approach has been from the Austrian economics side. The basis of praxeology is “Humans act”. That is the first premise of Mises’ theoretical framework. There are other rules of action that come out of the basic premise and corollary of that premise that lead to some very sophisticated thoughts.
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