Strategies
Strategies of all players:
Buy if the Price is lower than my Value Sell if my Cost is lower than the Price
Explanation of Supply/Demand Curve
- where are the supply/demand curve functions coming from?
- counting how many people would buy at a certain price
- in our case supply/demand curve jumped a lot
- abrupt price changes
- in reality more gradual
- counting how many people would buy at a certain price
- most Microeconomics is Game Theory nowadays
- almost all Market Equilibriums are Nash Equilibrium
- the magic of Competition
Outcomes
Cohort 1
- Nash Equilibrium at 20
Cohort 2
- Nash Equilibrium at 30