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The Great Game Theory Guide: Lesson # 2 — Wants versus Needs

 

For an introduction and simple explanation of the basics of game theory please read Lesson #1

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https://lewiscoaches.medium.com/the-best-introduction-to-game-theory-simple-and-easy-to-understand-written-for-a-12-year-old-633d3a5c46bc

Q. Lewis, what is the difference between wants versus needs, and how is the distinction important in creating a winning strategy?

A. The distinction between wants and needs is both subtle and complex. Much of this complexity has to do with the concept of precision and accuracy of measurement.

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Precision In Harrison’s (Holistic) Applied Game theory is important in the development of winning strategies, and the application of specific tactics. Without precision, there is always the chance of chaos.

Wants versus needs can be a defining factor in applied game theory. Let’s explore want and need.

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By Stuart Wainstock

In game theory, one of the most important elements is precision. Precise In Harrison’s (Holistic) Applied Game theory

What is a want? This becomes obvious as we become more self-aware. There is no test or chart or algorithm to measure this. Let’s say I want a special meal. A cheese sandwich? Let’s get specific — Raw Munster cheese, on toasted whole-grain hero bread (Hoagie, submarine, etc.). Lettuce and tomato, (with the lettuce cut to a string texture through a cheese slicing machine), dill pickle sliced thin, oregano, wine vinegar, and dark mustard. To this, ad lightly salted rippled potato chips and a Dr. Brown’s Celery Soda.

To me this is heaven. Give me this meal a moment before I die. Now, is this a want or a need? Well, we do need to eat. We do need simple pleasures for sure. Simple pleasures are a need. But what makes something a simple pleasure rather than a complex pleasure?

I can’t answer that for anyone, though I can certainly answer that for myself. Actually, it is a good item for mediation, contemplation, and ruthless introspection.

I pick this example because back in 1983–1984 I had this meal in an old retrospective movie house while watching “Gone with the Wind” for the first time.” Every time I remember that 3-hour experience endorphins race through my head and I slide into an ecstatic state. Just the memory of that experience.

So ultimately, being that we need to start somewhere in the exploration of want versus need I usually dive into Maslow’s Hierarchy of needs as a starting place. Of course, it is an intellectual approach, but it is a start.

Wants: One of my favorite movies for exploring the negative ripple effect of want is……….. TO CONTINUE READING THIS ARTICLE AT NO CHARGE PLEASE CLICK ON THE “WHAT’S NEXT GRAPHIC” ICON BELOW

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To read more about how applied game theory can lead to happiness please check out this Medium.com Story — https://lewiscoaches.medium.com/why-game-theory-is-the-secret-to-great-and-enduring-happiness-24adf32bef5
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About Lewis Harrison: I’m passionate about game theory (GT), innovation & self-improvement. I offer life coaching services and teach Game Theory (GT) to small & large organizations and use GT in my daily life

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