- Principle that the utility function for the amount of knowledge becomes S-curve in a winner-take-all environment.
- Assume the following model
- The distribution of a person’s amount of knowledge follows a unimodal probability distribution
- When two people encounter an opportunity to use their knowledge to create utility, the one with the greater amount of knowledge gains utility and the one with the lesser amount gains nothing
- Opportunities to use knowledge come with equal probability and the utility gained is constant
- The expected value of the utility gained is proportional to the probability that no one else has more knowledge than you
- That is, CDF (Cumulative distribution function - Wikipedia)
This page is auto-translated from /nishio/勝者総取り環境下で知識の効用がS字 using DeepL. If you looks something interesting but the auto-translated English is not good enough to understand it, feel free to let me know at @nishio_en. I’m very happy to spread my thought to non-Japanese readers.