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The economics of The good, the bad, and the ugly : secrets, desires, and second mover advantages

Author: Manfred Joseph Holler
Publisher: Abingdon, Oxon ; New York, NY : Routledge, 2018.
Series: The Graz Schumpeter lectures, 12
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
The highly praised Western, The Good, the Bad, and the Ugly, has been used in many game-theory courses over the years and has also found its way into leading journals of this field. Using the rich material offered by this movie, alongside other elements from popular culture, literature and history, this book furthers this exploration into a fascinating area of economics.In his series of Schumpeter lectures, Manfred  Read more...
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Genre/Form: Electronic books
Case studies
Additional Physical Format: (DLC) 2018009399
(OCoLC)1026230147
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Manfred Joseph Holler
ISBN: 9780429467349 0429467346 9780429884344 0429884346 9780429884351 0429884354 9780429884337 0429884338
OCLC Number: 1047588121
Description: 1 online resource.
Contents: The Economics of the Good, the Bad, and the Ugly- Front Cover; The Economics of the Good, the Bad, and the Ugly; Title Page; Copyright Page; Contents; Preface and alternative facts; Chapter 1: The trailer; 1.1 The confession; 1.2 The agenda; 1.3 The story; 1.4 Acknowledgments; Chapter 2: On desires; 2.1 Why desires?; 2.2 Desires, preferences, and choices; 2.3 Sen's Liberal Paradox and the mixing of preferences and desires; 2.4 Preferences on desires; 2.5 The calculus of desires and preferences; 2.6 Ranking sets of desires; 2.7 Back to wants, beliefs, and desires 2.8 Desires and the neoclassical repairshopChapter 3: Second-mover advantages; 3.1 Of time and information; 3.2 The Sad Hill Truel and some revisions; 3.3 Second-mover advantages and market novelties; 3.4 Public pioneers and the entrepreneurial State; 3.5 Raisin picking and the Sherman-Willett trap: a theoretical excursus; 3.6 Fair shares and second-mover advantages; 3.7 Creative destruction and second-mover advantages; 3.8 Strategic secrets, hiding, and the second-mover advantage; 3.9 Who is a second-mover? Akira Kurosawa, Sergio Leone, or Bob Dylan Chapter 4: Secrets: how to create and how to deal with them4.1 A variety of secrets; 4.2 The Zimmermann Telegram and Alan Turing's dilemma; 4.3 Creating secrets as a work of art; 4.4 The artist as a secret agent; 4.5 Machiavelli's conspiracy paradoxes; 4.6 George Orwell's notebook: the moral dimension of secrets; Chapter 5: Justice in the end?; References; Index
Series Title: The Graz Schumpeter lectures, 12
Responsibility: Manfred J. Holler.

Abstract:

The highly praised Western, The Good, the Bad, and the Ugly, has been used in many game-theory courses over the years and has also found its way into leading journals of this field. Using the rich material offered by this movie, alongside other elements from popular culture, literature and history, this book furthers this exploration into a fascinating area of economics.In his series of Schumpeter lectures, Manfred J. Holler uses his analysis of Sergio Leone’s movie as a starting point to argue that combinations of desires, secrets and second-mover advantages trigger conflicts but also allow for conflict resolution. Many people and organizations have a desire for secrecy, and this is often motivated by a desire to create a second-mover advantage, and by undercutting the second-mover advantage of others. This book demonstrates that the interaction of these three ingredients account for a large share of social problems and failures in politics and business but, somewhat paradoxically, can also help to overcome some of the problems that result by applying one or two of them in isolation.This book has been written for curious readers who want to see the world from a different perspective and who like simple mathematics alongside story telling. Its accessible approach means that it will be of use to students and academics alike, especially all those interested in decision making, game theory, and market entry.

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