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> Why? Because a lot of their decisions are irrational and it is extremely difficult to have an opponent that does irrational decisions.

So if I make business decisions via ouija board or in a cocaine induced rage, I'll have a leg up?



> So if I make business decisions via ouija board or in a cocaine induced rage, I'll have a leg up?

Thomas Schelling's book The Strategy of Conflict has a focus on the ways that people can benefit in a conflict from being, or being perceived as, irrational or constrained in their choices or access to information. Clearly you can't be better off in all areas of life by making irrational or random decisions, but there are some specific situations of conflict where you might be, if others are aware of it.

One familiar example

https://en.wikipedia.org/wiki/Chicken_(game)

where if people think you are very irrational, you're likely to win!


Surprisingly, according to game theory yes.

http://lesswrong.com/lw/dc7/nash_equilibria_and_schelling_po...


> So if I make business decisions via ouija board or in a cocaine induced rage, I'll have a leg up?

No, but you'll have a job on Wall Street or maybe be a hedge fund manager.


You mistake appetite for risk as irrational. This might be true in some cases but I don't think it is general the same.

I think more of the scorpion and the frog: https://en.wikipedia.org/wiki/The_Scorpion_and_the_Frog




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