Explains the Theory of Holdups and why you might not want to Patent your new Invention…..just yet.

There have been concerns that, beyond the rising cost of fuel and feed, a hidden factor may be driving food prices higher: collusion among farmers, food processors, or exporters. Federal prosecutors have opened separate criminal probes into possible price-fixing by major egg producers and California tomato processors. This is the latest in a series of [...]

In my previous post, you read about Nash equilibriums and the formation of cartels. You also read about how cartels tend to be unstable and susceptible to treachery by its members.
This week we will look at De Beers - one of the most successful cartels ever. In fact, it is so successful that it operates [...]

An introduction to Nash Equilibrium and examples of how they work in Chess, and in Game theory