Hello,
I have always been inspired by Mohammad Ali (Professional Boxer). He has many inspirational stories and one story says that what motivated him the most was thinking about his other competitors. He questioned himself that where were his competitors doing now? And his answer was "practicing" that made him practice even more.
Sounds something like Game Theory? Not so much but the concept of considering your competitors while making your own decision is economics. It helps you decide about your situation by considering others behaviors. This is mostly, applied by competitors in same field, like telecommunication. For example what happens to AT&T when T-Mobil decreases its price?
This study is related to Game theory model.
There is a good movie based on the Nash equilibrium (John Nash) called a beautiful mind. This movies is worth the time. And gives more idea about the origin of game theory.
I have always been inspired by Mohammad Ali (Professional Boxer). He has many inspirational stories and one story says that what motivated him the most was thinking about his other competitors. He questioned himself that where were his competitors doing now? And his answer was "practicing" that made him practice even more.
Sounds something like Game Theory? Not so much but the concept of considering your competitors while making your own decision is economics. It helps you decide about your situation by considering others behaviors. This is mostly, applied by competitors in same field, like telecommunication. For example what happens to AT&T when T-Mobil decreases its price?
This study is related to Game theory model.
There is a good movie based on the Nash equilibrium (John Nash) called a beautiful mind. This movies is worth the time. And gives more idea about the origin of game theory.
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