“The Escalation Game is not an exotic brainteaser. Real life presents us with quandaries in which we are, as the saying goes, in for a penny, in for a pound. They include long-running labor strikes, dueling lawsuits, and literal wars of attrition, in which each nation feeds men and matériel into the maw of the war machine hoping the other side will exhaust itself first. The common rationale is “We fight so that our boys will not have died in vain,” a textbook example of the sunk-cost fallacy but also a tactic in the pathetic quest for a Pyrrhic victory. Many of the bloodiest wars in history were wars of attrition, showing once again how the infuriating logic of game theory may explain some of the tragedies of the human condition. Though persisting with a certain probability may be the least bad option once one is trapped in an Escalation Game, the truly rational strategy is not to play in the first place.”
Quote by Steven Pinker
Book:Rationality
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Rationality
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