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Nash Equilibrium: Dating and Cournot: Game Theory Lecture 6 of 24
Nash Equilibrium: Dating and Cournot(Duopoly)
Taught By Benjamin Polak | Game Theory Lecture 6 of 24
Nash Equilibrium - Dating and Cournot. Dating is the aspect of two people agreeing to go out and do something and/or to get to know each other. Most famous example is a man and woman.
Cournot - a strategic idea of perfect competition and/or obtaining a monopoly in business, not dating.
Communication and agreement is ideally essential in both situations yet as I am more versed on business then dating, I will communicate on the business aspect. The idea of running a business monopoly is the ideal for any business. Perfect competition between two firms lends to a more philosophical idea then a business strategy. Granted if two companies are producing the exact same product, in the same area, at the same time etc., although legally deterring, it seems to make sense to open lines of communication. Some people say that would be considered unfair practice on the overall consumers as prices and product production can be fixed to ensure excellent profits.
The challenging idea, although one must consider the Nash Equilibrium as an strategic idea, the ideal is in any Nash thought is ultimately One (1). That is what everyone is seeking to some level. One. Monopoly is the greatest invention to man, hence the game, yet it sucks to be only the consumer in the situation without some means to trade.
As in dating, communicating with the other creates a hopeful symbiotic merging. Acquisitions in business are a great thing. The reason for similar products is one wants a metric to hold themselves too and a purpose to drive for.
The only perfect competition I have ever experienced is my daily look in the mirror. With each day of thought and mental work.
Taught By Benjamin Polak | Game Theory Lecture 6 of 24
Nash Equilibrium - Dating and Cournot. Dating is the aspect of two people agreeing to go out and do something and/or to get to know each other. Most famous example is a man and woman.
Cournot - a strategic idea of perfect competition and/or obtaining a monopoly in business, not dating.
Communication and agreement is ideally essential in both situations yet as I am more versed on business then dating, I will communicate on the business aspect. The idea of running a business monopoly is the ideal for any business. Perfect competition between two firms lends to a more philosophical idea then a business strategy. Granted if two companies are producing the exact same product, in the same area, at the same time etc., although legally deterring, it seems to make sense to open lines of communication. Some people say that would be considered unfair practice on the overall consumers as prices and product production can be fixed to ensure excellent profits.
The challenging idea, although one must consider the Nash Equilibrium as an strategic idea, the ideal is in any Nash thought is ultimately One (1). That is what everyone is seeking to some level. One. Monopoly is the greatest invention to man, hence the game, yet it sucks to be only the consumer in the situation without some means to trade.
As in dating, communicating with the other creates a hopeful symbiotic merging. Acquisitions in business are a great thing. The reason for similar products is one wants a metric to hold themselves too and a purpose to drive for.
The only perfect competition I have ever experienced is my daily look in the mirror. With each day of thought and mental work.
