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Seinfeld Economics: The Stand-In

by Linda Ghent

Game theory attempts to mathematically capture behavior in strategic situations, or games, in which an individual's success in making choices depends on the choices of others. Game theory has been used to study a wide variety of human and animal behaviors. It was initially developed in economics to understand a large collection of economic behaviors, including behaviors of firms, markets, and consumers. The use of game theory in the social sciences has expanded, and game theory has been applied to political, sociological, and psychological behaviors as well.

A randomized strategy introduces a chance element into the decision-making process that is designed to confound the information content of the decision-maker's observed choices.

Seinfeld: The Stand-In

Kramer and Mickey are playing Rock, paper, Scissors. Kramer plays "paper" while Mickey plays "rock". Mickey tells Kramer he wins because "nothing beats rock". The rest of the rounds are then a draw because Kramer and Mickey both only play "rock."

from Seinfeld, Season 5 (1994)
Creator: Larry David & Jerry Seinfeld
Posted by Linda Ghent
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