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Notes On The Economics Of Game Theory

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Issue:

Miscellaneous

 

Written by:

Betty C

 

Date added:

October 29, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

15 / 3928

 

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9459 times

 

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Essay content:

Human agents are the same everywhere and are mostly rational. Practice begs to differ. Basic concepts such as the money value of time or the moral and legal meaning of property are non existent. The legal, political and economic environments are all unpredictable. As a result, economic players will prefer to maximize their utility immediately (steal from the workplace, for instance) ? than to wait for longer term (potentially, larger) benefits...
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As a result, economic players will prefer to maximize their utility immediately (steal from the workplace, for instance) ? than to wait for longer term (potentially, larger) benefits. Warrants (stock options) convertible to the company's shares constitute a strong workplace incentive in the West (because there is an horizon and they increase the employee's welfare in the long term)...
displayed 300 characters

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