You may bear noticed the discourse in Taylor (2014) at the end of Chapter 10 encircling oligopoly and the prisoner’s difficulty. The prisoner’s difficulty is an pattern of diversion supposition. A “game” is affect a table diversion, as your optimal agitate rests on what your adversary does. The identical holds in oligopoly, as your own decisions as to what worth to assault or how fur to product rest on what your competitors do.
Take a behold at the aftercited video that tries to make-clear oligopoly and diversion supposition Clifford, Jacob. (April 27, 2014). Oligopolies and Diversion Theory- EconMovies #8: The Dark Knight. https://www.youtube.com/watch?v=JMq059SAQXM
Find one other YouTube video on diversion supposition and divide the merge delay your tabulatemates. Then argue the aftercited issues:
Did the video or the other video you ground succor elucidate the concept of diversion supposition? Or was it fitting unwise?
Besides oligopoly, can you deem of any other situations that diversion supposition is serviceable for? This can be situations in the matter universe, in your own workplace, or level something you saw in a movie or TV profession.
What do you discover easier to prosper – the diversion supposition matrices or the math equations/computations that you’ve used in this tabulate?