What could be a constructive reply to the following: The topic of Game Theory had a particularly strong impact on me; provoking a response of unease….

  

What could be a constructive reply to the following: The topic of Game Theory had a particularly strong impact on me; provoking a response of unease. Game Theory occurs when multiple parties are confronted with a restricted number of options in a strategic environment, and each party evaluates the scenario to determine the optimal decision. The notion of the dominant strategy equilibrium suggests that, within a specific scenario, both parties will implement the dominant strategy; which is the strategy which produces the optimal benefit out of the possibilities they are presented with. The Prisoner’s Dilemma exemplifies the dominant strategy equilibrium, and proposes that the prisoners select the option which generates the maximum benefit for themselves, whilst generating maximum harm for the other prisoner. This theory suggests that a party would not be inclined to select the option which produces collective and mutual benefit. This distinguishes humans (or businesses) as sinister, whereby they are only conscious of the factors which produce the greatest degree of benefit for them. However, both human beings and organisations engage with other individuals, and they tend to value relationships and interactions with those around them. It is also important to consider how, to a certain extent, an advantage may be embedded in the notion of benefiting others. That is, by producing benefit for others, we may also experience a sense of benefit. The dominant strategy equilibrium depicts society as being particularly egocentric and self-serving, when in actual fact, many individuals are inclined to benefit the majority.  Ultimately, Game Theory may be restricted to the degree that it does not account for the long term, and the future repercussions of our behaviour. This theory fails to account for the psychological implications of engaging in activity that solely produces individual benefit. Many members of society may be reluctant to produce the optimum outcome for themselves if they know that others will be detrimentally disadvantaged as a consequence. Thus, Game Theory, (specifically the dominant strategy equilibrium) has several limitations, as it fails to consider the nuanced nature of society and how we, as individuals, may uniquely respond to situations.   Arts & Humanities Philosophy PHIL 105

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