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Game Theory: What Really Drives Economies and Markets

Course number : EC105   
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Studies have shown that investors, politicians, and criminals use the same decision-making tools. Consider the following: Two members of a criminal gang are arrested and imprisoned. The prosecutors lack sufficient evidence to convict the pair on the principal charge, but they have enough to convict both on a lesser charge. The prosecutors offer each prisoner a choice: Each prisoner can admit they did the crime, betray the other by testifying that the other committed the crime, or remain silent. If both prisoners A and B each betray the other, each of them serves two years in prison. If A betrays B, but B remains silent, A will be set free and B will serve five years in prison (and vice versa). If A and B both remain silent, both of them will serve only one year in prison (on the lesser charge). Neither prisoner knows what the other will do. Game theory is the study of decision-making. We will discuss how this concept applies to investing, international negotiations, and personal interactions. All of the things that affect our daily lives.  

Class Details

6 Sessions
Weekly - Wed

Location
OLLI - Ringling College Museum Campus

Instructor
Regan Teague 

Tuition: 

$90.00

Member Cost:

 $81.00


Registration Closes On
Wednesday, January 15, 2020 @ 11:59 PM

Schedule Information

Date(s) Class Days Times Location Instructor(s)
1/15/2020 - 2/19/2020 Weekly - Wed 1:00 PM - 2:20 PM Sarasota, OLLI - Ringling College Museum Campus  Map Regan Teague