The Economics of the Good, the Bad and the Ugly: Secrets, Desires, and
Second-Mover Advantages
Author: Manfred J. Holler
Country: England
/ U.S.A.
Publisher: Routledge
Language: English
Pages: 268
ISBN-13:
978-1138606982
ISBN-10:
1138606987
Available: Now
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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