ECN 340 Lecture Notes - Lecture 5: John Von Neumann, Problem Gambling, Thomas Schelling
3 Dec 2017
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Chapter 2 herford limits of rational choice theory. Ecn340 michael desantis: sometimes incentives (and disincentives) result not from the legal system or the presence of the. In the 1920s, one of the most brilliant men in the world. John von neumann, decided to work out the correct way to play poker which is the human game of secrets and lies. In poker there is no straightforward connection between what a player bets and the hand he holds. Should you fold or bet: the answer is surprising: folding would be unwise because the opponent automatically wins. Where and when do you meet this person given that you cannot communicate: schelling asked his class this question in new york his students answered. Meet the person at 12 at the information booth at grand central station. This is a coordination game: schelling s emphasis on communication, led him to come up with the idea of the hotline to.
