Algorithms to Live By summary

If you’ve been out searching for an apartment in a competitive market, you probably know how difficult it can be to decide when to take an offer and stop searching.

Our judgment is often clouded by the first thing that comes along, which we tend to perceive as the best option available. And, just as easily, the second option can seem like the next best thing.

Let’s stick with gambling for a minute and look at one of the most popular games at any casino: the slot machine, or “one-armed bandit.”

While some people are happy to sit at a single slot machine all day in the hopes of eventually hitting the jackpot, others prefer to explore their options, gather information and try to use it to their advantage. This same basic dilemma of how long to stick with a losing option before moving on applies to a number of situations in life, such as dating or investing. But what’s the winning strategy?

Do you ever feel like you can’t find anything you’re looking for once your desk or office gets cleaned up? Well, if you’re the kind of person who prefers a certain amount of organized chaos, then you’ll be happy to hear this next bit of advice.

Don’t worry about always keeping everything neat and tidy.

Now that your shelves are in order, let’s turn to those stacks of paper on your desk and all the notes and info that you keep close at hand. These are probably important things, like pending bills or letters needing an urgent reply – documents requiring easy access.

Computers have a pretty useful way of dealing with things that need to be quickly retrieved. They store their data either in a hard disk drive or a solid state drive. Each comes with its own advantages.

Aside from getting files in order, another key to productivity is organizing your time and figuring out how to get everything done. Every day has its challenges. It can be difficult to find the time to meet all your deadlines – and not forget to take the dog to the vet.

Fortunately, there are plenty of algorithms that deal with these kinds of scheduling problems.

Most of us would love to be able to see into the future, but what about the next best thing: predicting what will probably happen?

With the help of algorithms, predicting probable outcomes isn’t so far-fetched.

Here’s a classic thought experiment: Two generals are preparing to launch a joint attack on a city located in a fortified valley. The only problem is that each general is on a hill with the valley separating them, and before they can attack they need to agree on the exact time. However, the only way to get a message across is to send someone through the valley, where their messengers are likely to be captured. So how can they determine a time and know that the other has agreed to it?

This kind of problem is something computer scientists pondered in order to come up with algorithms to help ensure messages get to their destination safely.

Have you ever heard of the prisoner’s dilemma? Imagine you and a partner have successfully robbed a bank. Later, you’re both brought in for questioning by the police and placed in separate rooms. You know they don’t have sufficient evidence to convict either of you for the robbery, so if you keep your mouth shut, all they can do is give you a one-year sentence for a lesser charge. After that, you will get out and can enjoy your loot.

But here’s the twist: the cops offer both you and your partner a deal: If you testify against your partner and he stays silent, you’ll go free and he’ll go to jail for ten years. However, if you both turn on each other, you’ll each get a five-year sentence. What do you do?

When you’re trying to model something complicated, complex models are generally better than simple ones.

For example, if you’re developing a model to explain the cause of obesity, you’ll want a complex one that takes many factors into account, from a poor diet to genetics to lack of exercise. A simple model might focus solely on diet, which would be insufficient.