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Tag Archives: Business
Model this: nice guys finish last?
The Iterated Prisoner’s Dilemma, one of the most important models in game theory, predicts that business firms that screw their customers should fail, not succeed. But check out this recent report in Bloomberg Businessweek: The most hated airline is also the … Continue reading
Why are there no Nobel prizes in law or business?
The short answer is Alfred Nobel’s will. When Mr Nobel established the Nobel prizes in his will (back in 1895), he created prizes for the natural sciences–Physical Science, Chemistry, and Medical Science or Physiology–, another prize for Literature, as well as a … Continue reading
prior probability 