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It’s not a new theory, but it’s an essential component to the toolbox of modern economists - experimental economics.
Game theory has a fascinating connection with poker.
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Game theory - making the best decision based on predicting those of others - is connected with both poker and George Orwell.
Two theories - efficient markets and behavioural finance - attempt to explain how our sharemarkets work.
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Do our share prices effect the wisdom of crowds, or the madness of crowds? It’s the perennial economic debate.
It’s the technology highway which may drive economic growth.
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In our first piece in a new series on economic theories that are changing the way we think, how is technology creating growth?
How can you tell if you’re getting a great deal or buying a lemon?
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Asymmetric information – where one party to a potential transaction knows more about the deal than the other – can cause markets to collapse. Luckily, we’ve invented a few tricks to deal with it.