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CodyHuyanFirstEssay 5 - 23 Feb 2024 - Main.CodyHuyan
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It is strongly recommended that you include your outline in the body of your essay by using the outline as section titles. The headings below are there to remind you how section and subsection titles are formatted. | | | I want to use this opportunity to explore the root causes of my fear of missing out and incapability to slow down, which may be explained by a simple game theory model. | |
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< | Insecurity | >
> | Prisoner's Dilemma | | | | |
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< | Incentives | >
> | The hustle culture is essentially a product of the prisoner’s dilemma. Take the law school recruiting scene for example. If all students participate in OCI only, everyone will have equal opportunities to bid and interview. Although not everyone will have equal chances of getting an offer because of credentials, at least every student would be in the same race competing for the same number of available positions. But if one student applies directly, they may be able to enhance their probability of getting the job by preceding their competition. Other students who abide by OCI, however, would be left in a disadvantaged position where they may be competing for less headcount as many would be taken by early applicants. While the most stress-free, “socially” efficient approach would be for all to abide by OCI, it is not the most favorable outcome individually. To maximize individual chances, a given student would likely choose to apply early. But when everyone chooses to apply early, the recruiting process is simply pushed forward. Students still face the same competition while having less time to prepare. The game is identical from firms’ perspectives. All firms face substantially the same pool of candidates during OCI, but they are incentivized to recruit early to snatch the best talent before other firms. Consequently, when all firms choose the best individual strategy, the recruiting timeline inevitably advances. The inescapable consequence would be students spending extra time to network and prepare application material and firms spending additional resources on early-stage outreach, while the outcome would be similar to if everyone had attended OCI.
The dilemma extends well beyond legal recruiting. People are egotistically motivated. If there is something one can do to edge themselves ahead of other competition, most people would choose to do it. People would then gradually catch on and bring the playing field back to where it started until another round of edging and catching begins. The only thing that has changed is that people have exhausted more time and effort. I am too trapped in this vicious cycle, but how can I escape? | | | Learn to Slow Down |
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