Benefits of Cognitive Dissonance

Cognitive dissonance is a state of discomfort or stress resulting from an individual holding some combination of conflicting cognition and behaviors. Cognition refers to attitudes, values, beliefs, and so on. (Definition source 1 and source 2.) Leon Festinger originated the theory of cognitive dissonance in the 1950s. Basically, the theory states can be summed up … Read more

Nash Equilibrium and the Prisoners’ Dilemma

This article will introduce Nash Equilibrium and the Prisoners’ Dilemma. I will argue that prima facie these provide proof that empathetic markets can produce Nash-Superior equilibria. Let me start off by saying Khan Academy is super awesome. See their short introductory video on Nash Equilibrium and the Prisoners’ Dilemma: First thoughts: The PD does not … Read more