We’ve all heard economists and analysts utter the expression, “It’s all simple supply and demand!” when trying to explain some market phenomenon. Maybe … [Read more...] about The Supply and Demand Model is Wrong
Nash equilibrium
Nash Equilibrium: Seeing the Forest Through the Trees
Around the 1940s and 1950s, a defining moment in the development of economic thought was underway, led by academics such as Paul Samuelson and John … [Read more...] about Nash Equilibrium: Seeing the Forest Through the Trees