GAME THEORY BLOG

FROM SCIENCE TO REAL LIFE
September 17, 2019

Act first to negotiate better!

written by Hannes Lang & Lukas Franken

In negotiations about prices and salaries, it is best to act first to set a reference point. The other party must then negotiate starting from your reference point. This is straight forward in bilateral negotiations, but what happens if a negotiation involves three parties?

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August 22, 2019

Can I borrow your negotiation power for a moment?

written by Daniel Wagner

Power in negotiations comes from outside options – your own options or the other side’s, or the other side’s in another negotiation, as Apple has found out in their recent acquisition of Intel’s modem division. Intel was successful in the negotiation with Apple not because their relative power in that deal, but because...

July 24, 2019

Drivers take action, Uber does not!

written by Hannes Lang & Johannes Stiegler

Uber and Lyft, famous for their innovative peer-to-peer ridesharing service and their disruption of the taxi industry, have often been criticised for the low pay of their drivers. Drivers have gone on strike in New York, San Francisco and London to demand better pay and increased job security. These strikes have seen...

March 11, 2019

Braess’ Paradox: Close Down Roads, Reduce Congestion

written by Florian Dendorfer

In 2010, when the mayor of New York City at the time, Michael Bloomberg, closed Times Square and Herald Square to car traffic, citizens were anxious that the city’s traffic situation would become even worse than it already was. However, NYC’s streets were generally less clogged as a result, with northbound cab rides...

January 14, 2019

Djokovic – a game theory expert?

written by Ayrat Maksyutov

Professional tennis is probably one of the toughest sports. As the game has shifted into the realm of high speeds and relentless rallies, equipment has gone through immense developments and players are reaching the peaks of their physical form, the hidden key to winning may now lie with game theory. Economic research...

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