It’s not a new theory, but it’s an essential component to the toolbox of modern economists - experimental economics.
Articles on Economic theories that have changed us
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Game theory - making the best decision based on predicting those of others - is connected with both poker and George Orwell.
Do our share prices effect the wisdom of crowds, or the madness of crowds? It’s the perennial economic debate.
In our first piece in a new series on economic theories that are changing the way we think, how is technology creating growth?
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.
