Tim Scarfe: belief

Transcript context

…esigner of the game. I'm not just taking the game as given and then looking at what it predicts. Mechanism design has got many pieces too. I work in contract theory. That's a part of mechanism design. It says, what if I have 2 entities interacting and they're not symmetric, 1 knows more than the other and they have to interact with each other. That's contract theory. Auction theory is another part of mechanism design where I've got a bunch of people coming in and I think of them as symmetric. I don't know who's got more money than who wants to bid more than others but I have this mechanism called an auction that reveals their value. And the outcome is that the person who wanted the painting the most got it. That's that desire, that's 1 desired outcome. Anyway, long story short, game theory is a super rich, not so old discipline, you know, 100 years now, that's that's continuing to evolve and continue to supply all kinds of algorithmic ideas for those of us who are in the business. So I've been mostly a statistician in my career, kind of worried about uncertainty and probabilities and decision making and uncertainty. But when I go to equilibria and games and or economic ideas, then that game theory is part and parcel of the thinking. You've said that we need to be thinking about I mean, we we've spoken about incentives, we've spoken about collectives. The other big 1 is uncertainty quantification. Now, there there's this wonderful field in machine learning called conformal prediction. Yeah. And it was invented by my professor at university, Volodymyr Vork. Oh. And, you know, so we we learned about about the transductive confidence machine. Oh, nice.…

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