Need a strategy to beat the system? The #Maths of Game Theory #GreshamLecture When we buy, sell, bargain, barter, bid at auctions, and compete for resources, we want to be sure that we are using the best strategies. Game theory can help us understand precisely these kinds of situations. That’s why in 1994, the Nobel Prize for Economics was won by a mathematician – John Nash. Using games like the Prisoner’s dilemma, this lecture explains the work of game theorists such as Nash, David Blackwell an

This video examines how economists use game theory to model the behaviour of businesses in concentrated markets. | tutor2u | Facebook