New PM has changed UK tactics of chicken while US and China battle to see who blinks first
Two cars are hurtling towards each other down a narrow country lane. Both have the option to pull over but neither driver wants to give way first. What happens next?
This is the sort of scenario that lies at the heart of game theory, the use of models to show how rational decision-makers interact with each other. Game theory is big in economics and, in the current circumstances, that’s hardly surprising...
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