Chapter
Aligning Incentives in Complex Systems
28:55 - 35:13 (06:18)
Charles Hoskinson discusses the challenge of aligning incentives in complex systems, such as modern economics, and the role of programming languages like Haskell in building infrastructure for cryptocurrencies like Cardano.
Clips
Game Theory's concept of a rational actor falls short due to counter examples where systems behaved in unexpected ways.
28:55 - 31:10 (02:14)
Game Theory
Summary
Game Theory's concept of a rational actor falls short due to counter examples where systems behaved in unexpected ways. Incentive models relying on rational actors are flawed since humans are not always rational.
ChapterAligning Incentives in Complex Systems
Episode#192 – Charles Hoskinson: Cardano
PodcastLex Fridman Podcast
The conversation touches on aligning incentives in complex systems and the role of programming languages in building these systems, particularly in modern economics.
31:10 - 35:13 (04:03)
Programming Languages
Summary
The conversation touches on aligning incentives in complex systems and the role of programming languages in building these systems, particularly in modern economics. They also discuss the evolution of programming languages and the challenges in adapting to the ever-changing market.