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Category Archives: Game Theory
Strategic behavior in litigation
Litigation provides many opportunities for “strategic behavior.” Broadly speaking, the intuition behind the fancy word “strategy” is that individuals and firms decide how to act based on their expectations of how other individuals and firms are likely to act. Put … Continue reading
Posted in Game Theory, Law
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Litigation is costly
In a previous post, we saw that litigation can be a risky proposition. It is also a costly one. Under the American rule, each party to a case is responsible for his or her own legal costs. Thus, going to … Continue reading
Posted in Game Theory, Law
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Pop Quiz (game theory edition)
The image above (courtesy of Matt H. Evans) contains four colorful quadrants depicting the basic elements of game theory, a mathematical approach to human behavior. Which one of these quadrants, however, is redundant?
Game of Chicken (cult classic edition)
Can we model politics, litigation, and other forms of competition as games of chicken?
Prisoner’s dilemma T-shirts
Which one should we get?
Monday morning quarterbacks and the limits of game theory
Our colleague Justin Wolfers has written an excellent essay defending the indefensible–Coach Carroll’s controversial play call on 2nd down with 26 seconds remaining in the 4th quarter of Super Bowl XLIX, the disastrous (in hindsight) play call that led to his team’s gut-wrenching … Continue reading
Mixed strategies
So which of these four ghost strategies would you expect to have the highest kill rate? Hat tip to jackmcxp for sharing this tidbit with us via Imgur.
Should academic papers be published anonymously?
David Wood, a professor of accounting at BYU, recently gave a thoughtful talk at our home institution (UCF*) comparing and contrasting academic publishing across various fields, including accounting, economics, finance, psychology, and the natural sciences. (For its part, The Economist recently wrote … Continue reading
“The coinflipper’s dilemma”
That is the title of this little paper by economist Steve Landsburg. In his blog post with the same title, Professor Landsburg introduces the coin-flipper’s dilemma with this story: When I was in high school, my English teacher must have had … Continue reading
The Airplane Seat Dilemma
Times writer Josh Barro and cultural economist Tyler Cowen have recently used the so-called Coase Theorem to analyze the economics of cheap airplane seats — the ones with little leg room, so that reclining your seat imposes a non-trivial cost on the person behind you. … Continue reading
Posted in Current Affairs, Game Theory
Tagged Airplane Seats, Coase Theorem, Social Contract
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prior probability 