I found that providing clear definitions for the jargon of words that I mentioned in the previous post will offer a clearer understanding of the topics at hand. So, Let’s start by defining each of these words.

Game Theory is the study of the interaction of choices of “players” (or agents) and the outcome (mathematically and logically) in a particular situation or a game (All situations in which at least one agent can only act to maximize her utility through anticipating the responses to her actions by one or more other agents is called a game.) Note the importance of choices and outcomes here. The theory assumes some rationality and preferences from the agents. The theory has contributed to fields such as economics, business, politics, biology, psychology, sociology, and computer science. While concepts borrowed from these disciplinary such as fairness evolutionary, and complex computation of finding equilibria enhance the landscape of game theory even more.

Mechanism Design is like an inverse of the Game theory. The design process starts with identifying the desired outcome and designing incentives or mechanisms to shape the agent’s choices toward achieving that outcome. This presents the economist in the role of an engineer working in reverse. Its practical applications extend to areas such as auctions, market design, voting systems, and more.

Behavioral Sciences explore the behavior of organisms in the natural world by examining factors such as cognitive thoughts, social influences, contextual effects, and habits. It tries to answer when and why individuals engage in such specific behaviors from a psychological point of view.

In my perspective, Behavioral Sciences delve into a micro-level examination of how individuals behave in specific situations, exploring the psychological aspects that contribute to their actions. This approach may closely mirror real-world scenarios compared to the assumption of rational-ish agencies made by Game Theory. Conversely, Game Theory's study concentrates on the broader system surrounding each individual, adopting a holistic perspective on the entire system.

That probably covers the main definitions and also connects the dots around these terms. Moving forward, I aim to delve into the following:

• Identifying pressing problems arising from system or cooperation failures that I find urgent and exploring why (potentially) blockchain can be a solution.

• Exploring the integration of animal and plant behavior into planetary mechanisms or system designs.