Game theory and timing your job search

In game theory there is interesting game called minority game.

Without going into details of statistic, what it states is those who are on minority side win.

We will take classical example of bar which can accommodate 60 customers. If too many people i.e. > 60 go to bar, it will be overcrowded and customers will have feeling that they should have stayed at home. But if too many people stay at home i.e. < 60 people go to bar, they will miss the fun.

Solution is if you study trend of people going to bar over a period of time, you will get maximum benefit if you visit bar when majority is staying at home or you stay at home when majority is going to bar. Those on side of minority win.

Minority game has been applied to variety of fields ex. in finance is it applied to buying and selling of shares. A winner will sell when majority is buying and buy when majority is selling.

Unfortunately, operations research is not used much in field of HR, but things will change as with increasing focus on HR analytics.

You can use minority game for timings your job search. Search for job when few people are looking for change or avoid job search when too many people are looking for change, as those on minority side win. Someone should do research on this.

 

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