Zero-Sum Games and Win-Win/Lose-Lose Situations Compared in One Minute
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- Опубликовано: 26 сен 2016
- The term "zero-sum game" (some people refer to it as a win-lose or lose-win situation) is used pretty frequently these days, you'll most likely come across it during debates, TV shows and so on.
Therefore, knowing what a zero-sum game is and what the difference between zero-sum games and win-win or lose-lose situations is definitely helps you understand the discussion in question a lot better.
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I cannot focus on what you’re saying when you’re using a tennis analogy on a football pitch mate
Yeah that is what I was thinking!
Great spot! A football match can be drawn so is not a zero-sum game when betting between 2 participants.
If you include the bookie or the house then it's a valid zero sum game between 3 parties, but the tennis match is a far easier example!
The best part is how the one guy is throwing darts at the other in the tennis match on the soccer field
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😅I like the idea of 'Tax Guy'. That person (T-Guy) is likely to get involved in most trades, but also have the presence we rarely get into notice of
:D
This is pretty much as a meme at this point a nutshell between a zero sum game and a non zero sum game. Congrats!
Thanks a ton Matthew :)
Amazing video, thanks!
Happy you like the video :)
History had been a lot of zero sum game cases. Hope in 21st century, there would be more win-win cases.
Same here, hopefully 2020 is the exception rather than the norm but as always... hope for the best but prepare for the worst :(
I'd see a lose/lose situation as... basically buying a Ghost in a Jar off Ebay (shoutout to Planet Dolan),
Either it's fake, and you just got scammed out of your hard earned money, Or it's real, and you'll probably be haunted.
Brilliant! :)
Simple analogy a child should understand it. Good job. Framed well. Great examples. Simple.
I understand the explanation, but I'm confused by the use of the words "Zero" & "Sum". Does the sum of something equal zero?
Hi Scott, the bottom line is that for me to win, you have to lose.
Let's say only 5 apples exist in this world and no more apple trees can be found, so there will never ever be other apples.
You have 3 and I have 2. We can trade apples among one another but if you give me one, you'll have less. In other words, the sum of apples suffers ZERO modifications ... 3+2 initially, then maybe 4+1, etc. :)
A more desirable situation would be an alternate scenario in which you have an apple tree.
You sell some to me and use that money to plant seeds, take care of your existing tree and so on. In the end, the sum of all apples in existence will continue increasing, both of us eat apples and you have a well-functioning business. WIn-win :)
That helps, thanks.
2 things: in the simplest way I can explain it, the sum is the total 'material' or 'joy' in a situation/ game/ world which is automatically set at 0. This means, for example, if I am given £3 then the sum could be set to 3, but this £3 would come from someome losing £3, represented as -3. This would then set the sum back to zero. I hope that helped.
@@OneMinuteEconomics I know this an old comment but I'm just learning about this stuff. If you look at this situation long-term though isn't it still a zero-sum game?
My thought: The U.S/Canada buys avocados from Chile during the winter. This initially is non-zero-sum because its mutually beneficial. But, now that the demand is so high there are more avocados trees in Chile that the soil and natural rain can handle. Which is causing an amazing water drought from too many avocados trees, this situation is now zero-sum.
Another way one could think of it is that as we the world become SO reliant on one-another we damage the natural world around us to become economically beneficial, which in the long-term is a lose-lose.
What about non-zero sum?
Both win win and lose lose are not zero sum game situations.
what about the win-win-win?
Could I ask; for example, my sister and her husband together go to a casino. The sister has $100, and so does the husband for the gambling. After the gambling, the sister wins $100 from the casino. However, the husband loses all the $100.
Can we describe this situation as a zero-sum game?
Wouldn't be the best example but I guess you could, in that very specific context. But on a long enough timeframe, all casino players tend to become losers and the only winner is... you've guessed who :)
WAR is only a LOSE LOSE situation if you choose to forget Corporations like Lockheed Martin 50 billion revenue 2017 alone.
Thinking of human lives, a war is not a win-win situation because the dead cannot be resurrected.
@@Chris-dt5td the powerful will never care about the masses. So in tge it still is a zero-sum game.
Either wake up from your pacifist people-loving utopia or go home.
In my opinion it is not clear the concept: "tennis is a zero sum game because someone has to win".
In fact zero sum games allows ties, their basic rule just requires that what one players wins the other loses. So technically one can win zero and the other lose zero.
More like Win-LesserWin, reaching the equilibrium is highly unlikely.
War isn't lose-lose, USA manage oil prices with war, USA economic's depends on war, they produce and sell guns... they need wars. Great channel by the way.
Thanks for dropping by Carlos and while I do agree that from certain perspectives, wars can generate gains, the most important aspect to me is that they generate the loss of human lives. As an economist, I can put a price tag on almost anything but not on that, which is why wars are definitely lose-lose in my opinion :(
I Agree 100%, but that is an humanist point of view, in economics lives don't count. In fact, in order to exists capitalism and communism models sacrificed a lot of lives.
@@OneMinuteEconomics well you can technically put a price tag on labourers (their basic income). So please wake up from your humanistic utopia or go home.
Morals have NEVER played a key aspect in politics or business and NEVER will.
Borni Ekellem All these replies I see from you on different comments obsessively makes me think you’re just a bitter communist.
zero-sum is the fair situation.
all get pickle but may not get the liked food. pickle is the compulsory item. it is all done through food ideas. this the lose-lose situation where one cannot choose the food of choice and is facing food crisis.
compelling to choose an ok food and not liked food is win-win situation where the chooser chooses by choosing and the compeller is happy as well. But the one who compells gets the upper hand.
The salty part in pickle is ok but the main pieces must be the kind which are useful in need though not liked. Food way is everyone's way. It is the channel of functioning as all need to eat food.
win-win and lose-lose are separately made rules and special situations.
zero-sum is known and recognised rules situation. it means fair recognition and not being recognised by being recognisable as special situations.
But what about let's say win-win situations which don't involve any kind of coercion?
you have to remember trade isn't a win win situation the cheaper labour cost is where the equilibrium happens that's why China benefited so much... honestly I have never heard of a win win thing at all...
Thanks for dropping by Darren!
Now sure,, we can find at least a crumble of a flaw in each "win-win" situation if we try to do that because at the end of the day, imperfect humans can never generate 100% win-win situations but we sometimes come close enough :)
I do agree that cheap labor plays a huge role in a lot of situations but there are quite a few instances in which trading with international partners makes sense even if we disregard the cheap labor variable altogether. The scenario I've referred to in this video, with the Canadian guy buying pineapples from the Philippines because growing them in his own country wouldn't be feasible is a good example in my opinion.
A tennis match on a football(soccer) field....hmm...
Oooooooooooooops :)
Its alright :P
War isnt lose lose. It depends on the vestment of the parties involved.
Iraq
Vietnam
Afghanistan
Syria
Libya
Are all lose situations for them and win situations for the Corporations and Colonizers that benefitted from warring onto them
In some instances, you lose even if you win :(
@@OneMinuteEconomics I d say yes. I terms of Afghanistan. You spent 20yrs invading a country and achieved very little outside of establishing a puppet state viceroy in the capital city.
In Libya you took the most developed country on the continent and created a shadow government to rule it, even though any operatives of the shadow government will be executed on sight if they ever step foot in the country. War propaganda is the greatest Lie ever told.
tennis????????
Yep :)
This guy's voice is a lose-lose for listeners