Gould-Werth: Low-Wage Worker Casey Miller:—Noted
Litman: Cautious Congratulations—Noted

Davies: Belligerent Idiots Are Not Good at Game Theory—Noted

Daniel Davies (2011): The ECB and the Davies Folk Theorem https://crookedtimber.org/2011/11/18/the-ecb-and-the-davies-folk-theorem/: ‘If... being [thought] a belligerent idiot with no sensible regard for one’s own welfare was worth the candle, in the sense of conferring benefits which outweighed the cost of gaining it, then everyone would want to get that reputation, whether they were genuinely an idiot or not. But if everyone wanted that reputation, then everyone would know that simply acting like an idiot didn’t mean that you were one, in which case it would be impossible to establish a reputation as an idiot.... It’s one of the more important things in game theory that a signal has to be a costly signal.... A reputation in deterrence theory is something that is worth having, but not worth getting. People who use the word “signal” in this context (usually on the basis of a poorly understood or second-hand reading of Schelling) don’t always seem to realise that they are explicitly admitting that the costs of being in Iraq are greater than the benefits… .#noted #2020-06-24

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