Contrite Strategies And The Need For Standards by Sarah Constantin – Sarah explains a paper: ‘The authors identify a strategy called “Contrite Tit For Tat”, which does better than either Pavlov or Generous Tit For Tat in Iterated Prisoner’s Dilemma. In Contrite Tit For Tat, the player doesn’t only look at what he and the other player played on the last term, but also another variable, the standing of the players, which can be good or bad.’ Sarah then generalizes this to real life situations and explains why having a line in the sand has important survival value.
Some Things Are Not Coordination Problems by Ozy – Lots of people like facebook. Getting people to move en masse from facebook is not a coordination problem.
On The Value Of Everything by EconTalk – ‘Mazzucato argues that economists have mismeasured value and have failed to appreciate the role of government as innovator. She argues for a more active role for government in the innovation process and for government to share in revenue proportional to its role in the creation of new technology.’