As an Economics concentration, I was very excited for us to discuss Game Theory. What was even more compelling for me was the practicality of Game Theory which Fisher explains in Rock, Paper, Scissors. Ultimately, Fisher seeks to explain various social dilemmas using Game Theory and in the subsequent chapters, he makes an attempt to challenge many of the dilemmas posed in the various games. The various social dilemmas are the result of lack of cooperation and trust among the participants. One of the essential components of the games is the existence of only two players who have zero information about the intent of the other player.
Through the simplistic example of Rock, Paper, Scissors, Fisher is able to portray the added complexity of adding a third participant in a game. By adding a third player, the dilemma that the game poses is completely changed; “the introduction of a third player totally changes the nature of the game.”. What I find most interesting about this introduction is the shift from a targeted strategy of the players to a completely randomized approach as in Rock, Paper, Scissors. The social dilemmas, much like many other economic principles are based upon a series of assumptions which are believed to be true in theory but are not always true in practice. His focus on communication and trust in Chapter 5 are key components which would minimize social dilemmas. However, as he discusses near the end, communication is not always accurate and people are not always rational decision makers which reinforces the necessity of individuals to act in their own best interest.