Group activity: Cournot and Bertrand Games, December 2018

The activity is based on Beckman, S. R., 2003, “Cournot and Bertrand games” Journal of Economic Education, Vol.34, No.1, pp.27-35

Textbook Reading: Chapter 5 (Section 5.2; pp. 139-145)

Here is a good example of (potential) tacit collusion

In this Lex Fridman interview with FBI hostage negotiator Chris Voss, Voss calls the word “fair” the f bomb. In his experience,

Nobody uses the word fair when they have got criteria to back them up

Here’s Bart Wilson on the meaning of the word “fair”:

Learning Objectives: Gain experience of iterated prisoner’s dilemmas