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The Hidden Economy of Winning (Paul Oyer)
In 2011, the smartest owners and players in the NBA burned $580 million in a standoff that defied economic logic. Why? To prove a point about leverage. In today’s briefing, we analyze An Economist Goes to the Game by Stanford professor Paul Oyer. We explore why the "fair" price for your product is mathematically wrong, how "scalpers" actually improve market efficiency, and why Michael Jordan’s greatest asset wasn’t his jump shot—it was his understanding of Game Theory.
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