Tag Archives: chicken

Normal form games

There are two main ways in which games can be represented in game theory. One is the normal form (also called strategic form) and the other is the extensive form. This post will explain the normal form. In a normal … Continue reading

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Obama and the $14 trillion debt ceiling

Barack Obama and Republican leaders are playing a game of chicken over the $14 trillion debt ceiling. None of them wants the US to default on its debts, but neither wants to be the one to back down. Whoever blinks … Continue reading

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Oil prices and OPEC (part 2)

The International Energy Agency (IEA) has said that its members are going to sell some of their oil reserves to bring down the oil price. The idea is that this will help the global economy and stop it falling back … Continue reading

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