Why parties in a cartel will cheat : Game Theory of Cheating Firms

By Sal Khan

Book Id: WPLBN0002825940
Format Type: Video (Educational Video)
File Size:
Reproduction Date: 2012

Title:	Why parties in a cartel will cheat : Game Theory of Cheating Firms
Author:	Sal Khan
Volume:	Microeconomics series
Language:	English
Subject:	Science, Science & Economics, Microeconomics
Collections:	Educational Videos, Why parties in a cartel will cheat series
Historic Publication Date:
Publisher:	Khan Academy

Member Page:	Khan Academy
Citation APA MLA Chicago Khan, S. (n.d.). Why parties in a cartel will cheat : Game Theory of Cheating Firms. Retrieved from http://gutenberg.us/

Description
Pareto Optimality and more on Nash Equilibrium. Seeing how cheating duopolists parallels the prisoners dilemma

Summary
Topics covered in a traditional college level introductory microeconomics course

Excerpt
You know what Nash equilibrium is (from the other tutorial). Now we apply it to a scenario that is fairly realistic--parties to a cartel cheating. A cartel is a group of actors that agree (sometimes illegally) to coordinate their production/pricing to max

Table of Contents
microeconomics