Game Theory
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A positive-sum game against nature
Whenever there is a major economic event (a rapid decline of stock prices, a spike in the price of oil, high unemployment, etc.) the media can be counted on to feature a person who was predicting these events all along. This should not be surprising because there are so many professional economists and commentators who [...]
Robert Aumann on incentives and competition
On Barely A Blog, Ilana Mercer reports on Robert Aumann’s recent inaugural lecture of the Center for the Study of Judaism and Economics at the Jerusalem Institute for Market Studies. Robert Aumann, who won the 2005 Nobel prize in economics with Thomas Schelling, is known for his work on repeated games and the role of [...]
