Game theory

Edgeworth paradox

To solve the Bertrand paradox, the Irish economist Francis Ysidro Edgeworth put forward the Edgeworth Paradox in his paper "The Pure Theory of Monopoly", published in 1897. In economics, the Edgeworth paradox describes a situation in which two players cannot reach a state of equilibrium with pure strategies, i.e. each charging a stable price. A fact of the Edgeworth Paradox is that in some cases, even if the direct price impact is negative and exceeds the conditions, an increase in cost proportional to the quantity of an item provided may cause a decrease in all optimal prices. Due to the limited production capacity of enterprises in reality, if only one enterprise's total production capacity can be supplied cannot meet social demand, another enterprise can charge a price that exceeds the marginal cost for the residual social need. (Wikipedia).

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6. From Classical to Neoclassical Utilitarianism

Moral Foundations of Politics (PLSC 118) In this economics-oriented lecture, Professor Shapiro introduces neoclassical utilitarianism as it was formulated by economist Vilfredo Pareto and further described by Francis Edgeworth, examining such concepts as indifference curves, transitivit

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2. Utilities, Endowments, and Equilibrium

Financial Theory (ECON 251) This lecture explains what an economic model is, and why it allows for counterfactual reasoning and often yields paradoxical conclusions. Typically, equilibrium is defined as the solution to a system of simultaneous equations. The most important economic mode

From playlist Financial Theory with John Geanakoplos

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4. Efficiency, Assets, and Time

Financial Theory (ECON 251) Over time, economists' justifications for why free markets are a good thing have changed. In the first few classes, we saw how under some conditions, the competitive allocation maximizes the sum of agents' utilities. When it was found that this property didn'

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How to graph and shade a system of linear inequalities

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From playlist Solve a System of Inequalities by Graphing

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Lecture 7: Pareto Optimality

MIT 14.04 Intermediate Microeconomic Theory, Fall 2020 Instructor: Prof. Robert Townsend View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/ YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2

From playlist MIT 14.04 Intermediate Microeconomic Theory, Fall 2020

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Lecture 13: Walrasian Equilibrium and Trade

MIT 14.04 Intermediate Microeconomic Theory, Fall 2020 Instructor: Prof. Robert Townsend View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/ YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2

From playlist MIT 14.04 Intermediate Microeconomic Theory, Fall 2020

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Graph Linear Inequalities in One Variable (Basic)

This video explains how to graph basic linear inequalities in one variable. http://mathispower4.com

From playlist Linear Inequalities in One Variable Solving Linear Inequalities

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3. Counting the Fingers of Adam Smith's Invisible Hand

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From playlist Capitalism: Success, Crisis and Reform with Douglas W. Rae

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Graphing a system of linear inequalities

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The Power of Sampling by Peter W. Glynn

Infosys-ICTS Turing Lectures The Power of Sampling Speaker: Peter W. Glynn (Stanford University, USA) Date: 14 August 2019, 16:00 to 17:00 Venue: Ramanujan Lecture Hall, ICTS Bangalore Sampling-based methods arise in many statistical, computational, and engineering settings. In engine

From playlist Infosys-ICTS Turing Lectures

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Introduction to Differential Inequalities

What is a differential inequality and how are they useful? Inequalities are a very practical part of mathematics: They give us an idea of the size of things -- an estimate. They can give us a location for things. It is usually far easier to satisfy assumptions involving inequalities t

From playlist Advanced Studies in Ordinary Differential Equations

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How to determine the solution of a system of linear inequalities by graphing

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From playlist Solve a System of inequalities by Graphing | Standard Form

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Graph Theory: 20. Edge Weighted Shortest Path Problem

This video explains the problem known as the edge-weighted shortest path problem. The next two videos look at an algorithm which provides a solution to the problem. --An introduction to Graph Theory by Dr. Sarada Herke. For quick videos about Math tips and useful facts, check out my othe

From playlist Graph Theory part-4

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Graphing a linear system of linear inequalities

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From playlist Solve a System of inequalities by Graphing | Standard Form

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12. Accountability and Greed in Investment Banking

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Why do we have to flip the sign when we divide or multiply by negative one - Cool Math

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Related pages

Perfect competition | Bertrand–Edgeworth model | Francis Ysidro Edgeworth | Bertrand paradox (economics)