<< As Richard Thaler, the behavioral economist at the University of Chicago, explained, the strategies can be applied to anything: health care, nuclear deterrence, the last piece of pizza >>
<< Game theory shows that in iterated dilemmas, played many hundreds or thousands of times, cooperation is a very stable strategy — one reason it is so common in nature.
But this is not an iterated dilemma. It’s a one-time-only dilemma with a tremendous payoff for the winner >>
<< As Daniel Diermeier, the dean of the public policy school at the University of Chicago, notes, “A very important lesson of game theory is that sometimes the world is a grim place >>
Kevin Quealy. The 2016 Race. Lessons From Game Theory ... February 24, 2016