Trying to make a dollar out of 15¢…
Here is a funny clip of two things:
1) a man showing you how to make $3.75 out of $1
2) a professor giving his students a quick (and costly) lesson on the game theory of political lobbying.
If you liked learning about “the prisoner’s dilemma” and other zero-sum thought experiments in school, you’ll love this example.
and finally here is link to the professor’s own words and explanation of this lesson.
H/T: Marginal Revolution
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