The U.K.’s decision to leave the EU and the voting in of the protectionist Donald Trump to the US presidency has drawn both the UK and the USA into the Nash Trap. U.S. mathematician John Nash (the movie ‘A Beautiful Mind’) postulated that Adam Smith’s declaration that ‘In competition, individual ambition serves the common good’…
“Doubt is not a pleasant condition but certainty is an absurd one.” These words of Voltaire are as apt today as they were when he wrote them in the 18th century. I don’t know about you but this year seems to be a curious mixture where some people purport to deal in apparent certainties, which…
John and David Sturrock 1. Introduction Several years ago, while travelling back with my son David to Oxford where he was studying as an undergraduate, we discussed my work as a mediator and his study of economics, particularly the learning for us both from Game Theory. I (John) had been familiar with The Prisoners’ Dilemma…
