Stephen Schecter called ” Game Theory In Action”. My natural instincts are very much influenced by Mythology and its application in modern world. So, I couldn’t help but notice the Jumbled initials of the title which is ” GITA”.
Such a versatile theory Developed by Prof. Nash.It’s a mathematical- scientific model to anticipate how actions of one entity will affect the decision of each entity in that eco-system.
This theory is used in Business, Wars, Politics, Psychology, Sports etc.
The relationship of the Gita to game-theory arises from the most popular Sholka which is: ||Yada yada hi dharmasya glanirbhavati bharata
Abhythanamadharmasya tadatmanam srijamyaham|| 4.7
||Paritranaya sadhunang vinashay cha dushkritam
Dharmasangsthapanarthay sambhabami yuge yuge|| 4.8
Meaning: Whenever there is a deterioration of dharma the God takes one more incarnation (Avathaara) to uphold the dharma. The incarnation of God,
is to protect the good people, destroy the evil ones and restore Dharma (Balance) in the society once again.
Game Theory Context: One can easily relate this to some well known concepts in Economics & Management. These could indeed be explained with this. The demand – supply equilibrium(Nash’s Equilibrium), pricing decisions in alternative market structures(The prisoner’s Dilemma), the way in which organizations continue to root out bad CEOs or Managers over time, the mechanisms to prevent opportunistic behaviours in the long run, could all be explained by this basic Idea laid out in this shloka.
There are plenty of ideas in Bhagavad Gita.You can have spiritual as well as material progress in a very balanced way. You can have happiness, not only success. This could be one of the good reasons for us to read it and make our own notes.
Bhagavad Gita has much greater propensity to draw out of it and apply in a variety ofsituations hence it should be read rather than worshipped to get the most out of. 🙏