The Great Game

Tuesday, October 11th, 2005

In The Great Game, David Henderson summarizes Thomas Schelling’s work in game theory:

Many of the problems he discusses occur, he notes, because it’s too difficult to enter an exchange. Mr. Schelling put it beautifully: “Small children learn to trade stamps with an acumen that the real estate fraternity can only envy, but their parents can travel incommunicado behind a slow truck on a mountain grade without finding a way to make it worth the truck driver’s time to pull off the road for 15 seconds.”

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