Confirming that economics relates to almost everything, game theory can explain yesterday’s women’s World Cup semifinal penalty kick save by the U.S. team.
Whether looking at an art heist, government shutdown negotiations or a soccer shootout, game theory can explain people’s behavior.
We can use economic game theory to understand the decisions made by kickers and goalies during World Cup penalty shootouts.
Our weekly news roundup includes Starbucks Rewards and marginal thinking, the opportunity cost of housework, and how clothing affects human capital.
The free bread baskets we get in restaurants have a cost that can involve dollars, table turnover, alcohol consumption and customer good will.
Our everyday economics includes externalities, branding, monopolistic competition, sovereign debt, game theory, elasticity, taxes, markets and the glass ceiling.
For insight on how Greece and Germany handle the prisoner’s dilemma as they negotiate Greek debt, we can compare their differences and eurozone loyalty.
This week’s everyday economics stories include subsidies, human capital, game theory, price controls, inelastic demand, and monopolistic competition.