Is anyone else having immense problems with this website due to Claude writing it?
Beyond the AI writing style and the pure amount of sentences, nothing seems to transmit the right information at the right time.
You need to read the entire page twice to get what is going on.
For example, the first text you read is:
—- Axtary checks the exact diff, message, query, or tool payload before a connector executes. Routine actions follow policy; higher-risk actions require approval of that exact payload. —-
Without having read the rest, nothing in this paragraph seems to tell me anything.
Only after I read the rest of the website do I somehow get what is even meant.
It only works on end to end tasks in fresh codebases.
Otherwise it cannot follow instructions, changes and deletes unrelated features or does sloppy work to mark a task completed while leaving a compromised codebase.
I could not get Sol to finish a feature in a complex code base without several loops of fixing and reverting
It is no longer able to execute well defined changes.
It does stuff that wasn’t asked for, deletes pieces of functionality unrelated to the task and introduces regressions everywhere.
I blame it on benchmaxxing.
I fear coding models no longer work in a large complex codebase
When you Robot folds your clothes but it's kinda wrinkly and sloppy but you accept it anyway because it's easier than precisely folded and pressed clothes.
Obviously the theory is decades old. I think nowadays a Game Theorist would not go and claim that the fixed-point convergence is an actual market process with consumers and monopolists trying to outsmart each other in some kind of bizarro bazar game.
An equilibrium for a given game is - depending on the equilibrium concept (bummer, even more conditions) - is a stable outcome of some sort with usually no claims as to how it would actually be reached.
By that, you can already see that this is not really an actual theory of an empiric situation, but rather a mathematical model of a certain solution structure.
If you were to write this paper today as an economist and your goal was to claim that is actually, really holds in reality, then you'd not only have to produce the theory but you'd also have to build some sort of empirical model that you can estimate with somewhat plausible identification conditions and structure, or be able to show it in a (pseudo-)experiment setup that is believable enough.
Suffice to say that there are very few such claims made on reality in modern microeconomics (that is to say, Game Theory by and large)
As it turns out, these sort of mathematical models have quite a bit of value in a normative setup, say if you go and design a market or an auction. Less so as a theory to explain all of reality.
I think in Coase's time, it was easier to write a 6 page paper from your bathtub and claim something about the world. Wasn't there an xkcd comic like this?
Not really.
Game Theory (in this iteration at least) is about identifying equilibria, not about the process of reaching them. This is one of several "deviations" of Game Theory from "reality". The fact that equilibria are fixed-points and can be explained in some sort of bargaining process doesn't really mean that's how we should actually imagine them.
If we do so, we both overstate the theory (claiming some sort of actual behavioral process) and understate it being a (possibly quite general) fixed point to many possible market and non-market processes.
If you want to make Game Theory collide with reality, the actual convergence to an equilibrium is only one of many venues where there is a large divide. Other assumptions of these models - from rational behavior to uniform prior assumptions - are equally problematic.
Game Theory models are nevertheless very helpful because they require you to actually lay out your assumptions or - when you observe something else - reason about "what else is going on" in any of these areas. As it turns out (as another person has said), it is also immensely helpful when designing mechanism (i.e. games) like a Steam store or an ad auction, which is why tech companies hire quite a few Game Theorists.
The issue if, of course, that marginal revolution overstates the contribution of a single empirical study here.
Of course everyone is aware that the original model doesn't hold in reality. The contribution of showing this in the ebook market is... not zero, but certainly not the implied "We killed the theory!!!!"
Instead, there are decades of papers poking holes in the Coase model and producing ideas as to why the conjecture doesn't hold.
In my mind, these are the more interesting contributions. The authors mention two, but I think far more tangible are time preferences, time horizon limits, pertubations, non-uniform prior assumptions and bounded rationality.