Economists Do It With Models

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Entries Tagged as 'Game Theory'

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When Matching Pennies Takes An R-Rated Turn…

August 16th, 2016 · 3 Comments
Game Theory · Just For Fun

You know you’re an econ/math nerd if you read this and think “haha, it’s like the matching pennies game”: But hear me out…here’s the matching pennies game, and, like the joke, the crux of the game is that there is no Nash equilibrium without randomization. To further the analogy: The matching pennies game works as […]

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Tags: Game Theory · Just For Fun

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I’d Be Open To Parenting If There Were More Game Theory Involved…

July 31st, 2016 · 2 Comments
Game Theory

One of my many jobs is to help out with an online course in microeconomic theory. This course utilizes online problem sets created by the textbook publisher, and one of the sets includes the following question: (Dear Internet: Is it prisoners’ or prisoner’s? I argue the latter since it’s a noncooperative game, though I might […]

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Tags: Game Theory

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Economists Can Explain That! Black Friday Edition…

December 8th, 2015 · 2 Comments
Buyer Beware · Game Theory

Well color me not surprised… Did anyone really think that stores being open on Thanksgiving was actually going to substantially increase how much consumers buy rather than just change the timing of purchases? I like an intoxicated post-turkey Target fest as much as the next person, but this just seems largely implausible, if for […]

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Tags: Buyer Beware · Game Theory

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On Economists Giving Thanks, And The Avoidance Of Arms Races…

November 28th, 2013 · 3 Comments
Behavioral Econ · Buyer Beware · Game Theory · Policy

First off, HAPPY THANKSGIVING! I am very thankful that you all read my online ramblings 🙂 Once you get drowsy from eating too much Thanksgiving dinner (and no, it’s not the turkey, that’s mostly an urban legend, unless of course you ate the entire turkey), you should feast on what Dan Ariely has to say […]

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Tags: Behavioral Econ · Buyer Beware · Game Theory · Policy

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Deep Thoughts: What Would A Monty Hall Problem For Animal Lovers Look Like?

October 28th, 2013 · 4 Comments
Fun With Math · Game Theory

I first learned about the Monty Hall problem my sophomore year of college, and then, for some reason that I can’t even begin to remember, it was also discussed at the beginning of my graduate micro theory course. In other words, I’ve been annoyed by this problem for a good long while now. The problem […]

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Tags: Fun With Math · Game Theory

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New Income Data Available, With Bonus Educational Arms Race Analysis…

September 17th, 2013 · 7 Comments
Fun With Data · Game Theory

In an economist’s world, the census people releasing updated data on income, poverty, and health insurance coverage is likely to be, by far, the most interesting thing to happen today, if not all week. (Joking aside, the slides that are linked to there are in fact pretty interesting.) Overall, the numbers look pretty grim. The […]

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Tags: Fun With Data · Game Theory