And if you want to visualize this two value dimensions simultaneously (for planning and tracking progress)...
It's possible with Excel-Templates.
Download here: http://bengin.net/bes/basic_master_e.html
He sets all tuples of strategies into real numbers. That means he reduced "payoff" to a linear ("$"-)metric system.
If he would have taken vectors instead of "linear numbers" for "payoff", the whole Game Theory - and Decision Making - would be less limited and more integral.
We (Decision/Game makers) would have the option to realize monetary AND non-monetary payoff (or subjective AND objective or tangible AND intangible payoff).
The vector based metric system is in many dimensions better than a linear (KPI) system. No one can really afford measuring in an old and limited number system.
The development of better measures/metrics is one of the purposes of "Project NEMO" (NEMO = New/Next Economic Model).
And we reached some clever solutions.
Is it clear that the human logic and follows a learned code (MindWare)? What are the rules for the (HR) operating system and the Coding of our MindWare in Economics and Decision Making?
Is it clear, that the elementary principles were built 250 years ago by Adam Smith? It was good then - but fails today.
Time to (re)code the MindWare.
That's what we are doing with "Project NEMO" (NEMO = New/Next Economic Model) http://project-nemo.org
and INSEDE (Institute for Sustainable Economic Development) http://insede.org
Want to come on board too? Just mail :-)
For the definition of "payoff function" Nash starts with "Real Numbers" for pure and linear strategies (Page 2,3 in Original Dissertation) - see red part in picture below.
Later on he definies the "mixed strategies" as a convex subset of a "real vector space". This is visualized in the (yellow) area part in picture below.
The problem of this definition is, that it is based on real numbers.
If he'd have used a "vector number" instead the "Real Number" with two axes for the "Objective Value Dimension" (measured in monetary value metric) AND the "Subjective Value Dimension" (measured in non-monetary implicit i-value metric) - as visualized in the grey "Volume Space" below (G3 for i-measure) - the subjective valuation would have direct impact in any decision making.
Such an enhanced metric allows new dimensions in simulations and sustainable decision making.
Now it's time to change the basic definition of the payoff in the formula of decision theory from "real" to "vector" with an i-axis for counting in the individual/implicit/intangible values (similar to the complex numbers introduced 200 years ago).
There's no valid "Quantitative Behavioral Economics" without integrating a subjective/implicit value metric.
See more at "Linking Subjective and Objective Measurement..."
See former post in G+: https://plus.google.com/+PeterBretscher/posts/PBXZwioqTcV
2D-Vector based Value Metrics - with a Business AND a Social Dimension - helps to get the right direction.
See more at Shared Value: http://bengin.net/special/fsg/
or go to Project NEMO (New/Next Economic Model)
Clever Solutions and Metrics for designers of smart economy.
And yes - it's possible.
Project NEMO (NEMO = New/Next Economic Model)
Valuation experts for Intangible Assets (Skills, Knowledge, Potentials, Power...) have no clothes. Redesign of economic value paradigm is needed.
That's one of the tasks we already solved in "Project NEMO" (New/Next Economic Model) http://project-nemo.org
Clear minds are invited to join our project.
- Real life+discerning, present
- NTB, Neu Technikum Buchs, FHSG, UniSG, HSGMechanics, Optics, Electronics, 1970 - 1973
- ETH ZurichIntellectual Property Rights, 1984 - 1986
- LehreFeinmechanik, Werkzeugbau, Konstrukteur, 1966 - 1970Alles, was zu einem soliden Handwerk gehört. Inklusive Akkordarbeit, Betriebsmittelkonstruktion und -bau, +++
- Project NEMO (New/Next Economic Model)Founder, 2010 - presentDesign/realize next exonomics mindset that fits the needs of leaders and managers in a smart environment/economy/nation.
- Ingenieurbüro für WirtschaftsentwicklungIngenieurbüro für Wirtschaftsentwicklung, 1988 - presentEntwicklung, Konstruktion, Optimierung und Realisierung von nachhaltigen Modellen für die intelligente Wirtschaft.
- mozzzup (own project)Founder, 2013 - presentKonzept, Business Modell, congeniale Partner finden
- INSEDE (open) Institute for Sustainable Economic DevelopmentFounder, 2010 - presentAufbau Institut
- Wild Heerbrugg, Leica, Bühler, ISG, FHSG
- Project NEMO (New/Next Economics Model) (current)
- insede.org (current)
- Business Engineering Systems (current)
- G+ INSEDE (current)
- Business Engineering (current)
- Business Engineering Systems (current)
- Business Engineering Services (current)
- Peter Bretscher (current)
- ResearchGate (current)
- open.insede (current)
- Project NEMO (New Economic Model) (current)
- Community Business Engineering (current)
- Community open.insede (current)
- Business Engineering (classic web) (current)
- Buzz (current)
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