Blooms
- Ava Langford
- Feb 10
- 1 min read
As I work through the process of writing my paper, I continue to see how economics, game theory, and mathematics connect in ways that go beyond simple calculations. Studying how players make strategic choices, weighing risk against reward, mirrors the way businesses and policymakers make critical decisions in real-world scenarios. Whether it's determining the best move in a game or assessing financial investments, the core ideas remain the same: analyzing probabilities, anticipating outcomes, and making choices with imperfect information.
What interests me most is how probability theory suggests optimal strategies, yet actual human behavior often deviates from these predictions. My game, in theory, has mathematically ideal choices at each turn, but real players may make different decisions based on personal risk tolerance, instinct, or even overconfidence. This has led me to consider the role of behavioral economics, specifically how emotions, biases, and heuristics shape decision-making even when a "rational" choice is clear. While mathematics provides a structured way to predict outcomes, economics adds a layer of unpredictability, reminding me that no model can fully account for human nature.
Moving forward, I want to refine my understanding of how mathematical models translate into real-world applications, particularly in fields where uncertainty is a driving force. Whether in competitive markets, negotiations, or financial strategies, game theory continues to shape the way we interpret rational decision-making. As I develop my paper, I hope to bridge the gap between theoretical probability and its broader implications, exploring how game theory serves not just as a mathematical tool but as a lens through which we can better understand the world.