One way to interpret this is “I will do my best effort to follow the optimal policy”. On the other hand, when you’re optimizing for just your own utility function, one could argue that the “best effort” is exactly equal to the optimal policy once you take constraints and computational/logical uncertainty into account. On the third hand, perhaps for bargaining the case for identifying “best effort” and “optimal” is weaker. In practice, what’s important is that even if you followed a suboptimal policy for a while, there’s a well-defined way to return to optimal behavior. This is true for Nash bargaining (because of independence of irrelevant alternatives), less so for KS! Which is why I’m leaning towards switching to Nash. And if I fail to even make the best effort, there’s the clause about how to amend.
One way to interpret this is “I will do my best effort to follow the optimal policy”. On the other hand, when you’re optimizing for just your own utility function, one could argue that the “best effort” is exactly equal to the optimal policy once you take constraints and computational/logical uncertainty into account. On the third hand, perhaps for bargaining the case for identifying “best effort” and “optimal” is weaker. In practice, what’s important is that even if you followed a suboptimal policy for a while, there’s a well-defined way to return to optimal behavior. This is true for Nash bargaining (because of independence of irrelevant alternatives), less so for KS! Which is why I’m leaning towards switching to Nash. And if I fail to even make the best effort, there’s the clause about how to amend.