Comments on: Saving money on a plumber – game theory in practice

By: Using logic to solve a test question - Mind Your Decisions

Using logic to solve a test question - Mind Your Decisions — Mon, 30 May 2011 18:27:01 +0000

[...] have written before how I have used strategic thinking when hiring a plumber and also when negotiating a job [...]

By: Prof. B

Prof. B — Sun, 24 Apr 2011 18:33:48 +0000

Game Theory is an advanced academic discipline like say, psychology. I came to this website to read articles on Game Theory just like I would have come to read articles on psychology. The mention of plumbers is irrelevant to the subject matter at hand. The author had to use some trade to make his point. I am an academic (psychology professor) who, believe it or not, is also a licensed gunsmith and scuba diving instructor. In making an analogy, I might use one of these trades. Could everyone just kindly relax here? If you are interested in Game Theory, please enjoy the free content that the author has provided likely at his expense. If you do not have an interest in Game Theory, visit sites of interest to you. I am sure there are a multiplicity of great Plumbing sites out there.

Regards,
Pro. B

By: Scott

Scott — Tue, 28 Dec 2010 13:30:51 +0000

“So you made an assumption about what is a â€œfairâ€ price.”

Actually, he didn’t. If such an assumption was made, then this article would simply be a comparison made against that “fair” price. Except that’s not the case here. Rather the author admits that he doesn’t know what a fair price would be, and resorts to other forms of reasoning to draw his conclusions.

By: Chris

Chris — Thu, 23 Dec 2010 07:27:58 +0000

So what can you “fairly” expect to make from Adwords on this site?

What can one expect to find in fair return for information from a “free” website?

By: Chris

Chris — Thu, 23 Dec 2010 07:25:12 +0000

Here is some fresh content for you. (You are winning the free SEO content game. LOL).

So you made an assumption about what is a “fair” price. There is no probability, scientific, or “game” theory that can be applied to a human perception. (what is “fair” to both parties in a service transaction is not the same for everyone.) If the price was for a tangible commodity, for which all decision making criteria are 100% equal, there may be some logic to your decision.

As for the service you received, if you were happy with paying much less than what it usually costs to provide fair plumbing services, congratulations. You made a good connection. You’re experience is probably an exception to what you can “fairly” expect in return for so little.