Q: Curt: –“What do you mean when you say that under natural law, the eradication of frictions, should produce a Nash equilibrium in a Pareto distribution?”–
Nash equilibrium refers to the decisions of individual people within a population, while Pareto distribution refers to the emergency distribution of natural hierarchy of competency by the responsibility for the determination of the use of resources in the resulting system as a whole.
In other words, if both are achieved, the strategies converge, and no one can be better off by changing his or her strategy, nor can the allocation of responsibility for resources be changed without harming some for the benefit of others.
Source date (UTC): 2023-08-18 23:26:10 UTC
Original post: https://twitter.com/i/web/status/1692679310459416576
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