Econ to the death

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Econ to the death 〰️


Game Theory EXplained

Game theory, “the science of strategy”, blends mathematics and economics. It shows how decisions are interdependent, and how that shapes choices, and therefore helps individuals, or entities referred to as players, including customers, competitors, or legislative bodies, find the optimal outcome for strategies and actions, whether that be for business, biology, philosophy, economics (duh!) psychology… or even warfare!

SEE ARTICLES BELOW.


Prisoner’s Dilemma
Rational Yet Suboptimal Decision Making


Stag Hunt
Payoff Dominance vs Risk Dominance


Asymmetric Stag Hunt:
Payoff Dominance vs Risk Dominance & Unequal Payoffs


Pure Coordination; Two Pareto Optimal Equilibria Under Salience & Convention


Cournot Duopoly, Quantity Competition: The Optimal Quantity, Balancing Market Share & Profitability


Market Entry and the Zero Profit Equilibrium


Bertrand Competition -
How Firms Compete on Price


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