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What advice an economist can provide for online dating service by applying game theories?
Until the answer to that is, “Yes,” until the people who want relationships would rather suffer the agonies of genuine interpersonal communication, the hookup seekers will dominate.
Then we analyze the classic Cournot model of imperfect competition between firms.
We consider the difficulties in colluding in such settings, and we discuss the welfare consequences of the Cournot equilibrium as compared to monopoly and perfect competition.
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Mat Pat was born in Medina, Ohio as an only child and grew to love two arts: video games and theater.