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.hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">For other paradoxes by Joseph Bertrand, see <a href="/wiki/Bertrand%27s_paradox_(disambiguation)" class="mw-redirect mw-disambig" title="Bertrand's paradox (disambiguation)">Bertrand's paradox (disambiguation)</a>.</div> <p>In economics and commerce, the <b>Bertrand paradox</b> — named after its creator, <a href="/wiki/Joseph_Bertrand" title="Joseph Bertrand">Joseph Bertrand</a><sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> — describes a situation in which two players (firms) reach a state of <a href="/wiki/Nash_equilibrium" title="Nash equilibrium">Nash equilibrium</a> where both firms charge a price equal to <a href="/wiki/Marginal_cost" title="Marginal cost">marginal cost</a> ("MC"). The paradox is that in models such as <a href="/wiki/Cournot_competition" title="Cournot competition">Cournot competition</a>, an increase in the number of firms is associated with a convergence of prices to marginal costs. In these alternative models of oligopoly, a small number of firms earn positive profits by charging prices above cost. Suppose two firms, A and B, sell a homogeneous <a href="/wiki/Commodity" title="Commodity">commodity</a>, each with the same cost of <a href="/wiki/Economic_production" class="mw-redirect" title="Economic production">production</a> and <a href="/wiki/Distribution_(business)" class="mw-redirect" title="Distribution (business)">distribution</a>, so that customers choose the product solely on the basis of price. It follows that demand is infinitely price-elastic. Neither A nor B will set a higher price than the other because doing so would yield the entire market to their rival. If they set the same price, the companies will share both the market and profits. </p><p>On the other hand, if either firm were to lower its price, even a little, it would gain the whole market and substantially larger profits. Since both A and B know this, they will each try to undercut their competitor until the product is selling at zero economic profit. This is the pure-strategy <a href="/wiki/Nash_equilibrium" title="Nash equilibrium">Nash equilibrium</a>. Recent work has shown that there may be an additional mixed-strategy Nash equilibrium with positive economic profits under the assumption that monopoly profits are infinite.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> For the case of finite monopoly profits, it has been shown that positive profits under price competition are impossible in mixed equilibria and even in the more general case of <a href="/wiki/Correlated_equilibrium" title="Correlated equilibrium">correlated equilibria</a>.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>The Bertrand paradox rarely appears in practice because real products are almost always <a href="/wiki/Product_differentiation" title="Product differentiation">differentiated</a> in some way other than price (<a href="/wiki/Brand_name" class="mw-redirect" title="Brand name">brand name</a>, if nothing else); firms have limitations on their capacity to manufacture and distribute, and two firms rarely have identical costs. </p><p>Bertrand's result is paradoxical because if the number of firms goes from one to two, the price decreases from the <a href="/wiki/Monopoly" title="Monopoly">monopoly</a> price to the <a href="/wiki/Competition#Economics" title="Competition">competitive</a> price and stays at the same level as the number of firms increases further. This is not very realistic, as in reality, markets featuring a small number of firms with market power typically charge a price in excess of marginal cost. The empirical analysis shows that in most industries with two competitors, positive profits are made. Solutions to the Paradox attempt to derive solutions that are more in line with solutions from the <a href="/wiki/Cournot_competition" title="Cournot competition">Cournot model</a> of competition, where two firms in a market earn positive profits that lie somewhere between the perfectly competitive and monopoly levels. </p><p>Some reasons the Bertrand paradox do not strictly apply: </p> <ul><li><i>Capacity constraints</i>. Sometimes firms do not have enough capacity to satisfy all demand. This was a point first raised by <a href="/wiki/Francis_Edgeworth" class="mw-redirect" title="Francis Edgeworth">Francis Edgeworth</a><sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> and gave rise to the <a href="/wiki/Bertrand%E2%80%93Edgeworth_model" title="Bertrand–Edgeworth model">Bertrand–Edgeworth model</a>.</li> <li><i>Integer pricing</i>. Prices higher than MC are ruled out because one firm can undercut another by an arbitrarily small amount. If prices are discrete (for example have to take integer values) then one firm has to undercut the other by at least one cent. This implies that the price one cent above MC is now an equilibrium: if the other firm sets the price one cent above MC, the other firm can undercut it and capture the whole market, but this will earn it no profit. It will prefer to share the market 50/50 with the other firm and earn strictly positive profits.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></li> <li><i>Product differentiation</i>. If products of different firms are differentiated, then consumers may not switch completely to the product with lower price.</li> <li><i>Dynamic competition</i>. Repeated interaction or repeated price competition can lead to the price above MC in equilibrium.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup></li> <li><i>More money for higher price</i>. It follows from repeated interaction: If one company sets their price slightly higher, then they will still get about the same amount of buys but more profit for each buy, so the other company will raise their price, and so on (only in repeated games, otherwise the price dynamics are in the other direction).</li> <li><i>Oligopoly</i>. If the two companies can agree on a price, it is in their long-term interest to keep the agreement: the revenue from cutting prices is less than twice the revenue from keeping the agreement and lasts only until the other firm cuts its own prices.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup></li> <li><i>Effort to Purchase</i>. If there is a difference in the effort it takes for a consumer to purchase one over the other based on the consumer's circumstances (such as a difference in travel time to stores that stock the products), this can cause consumers to prefer one product over the other even if the product itself is exactly the same.</li> <li><i>Social Interdependence</i>. If indifferent consumers are treated as having a strategic choice between products based on loyalty and the choices of others the firms can achieve a price equilibrium with positive profits without directly violating Bertrand's assumptions.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup></li> <li><i>Goodwill.</i> Even when confronted with otherwise identical products in a market of price competition the two companies are themselves inherently different entities which may influence a consumer's choice of product via brand goodwill.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup></li> <li><i>Status Quo.</i> Consumers have an observed <a href="/wiki/Status_quo_bias" title="Status quo bias">bias</a> for retaining status quo so even when a new firm with identical product enters a market, consumers are biased to continue to purchase from the original firm.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup></li> <li><i>Customer Heterogeneity.</i> While products may be homogenous, heterogenous consumers can still create a market in which two price competing firms achieve price equilibrium with positive profits.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup></li></ul> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Bertrand_paradox_(economics)&action=edit&section=1" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Bertrand%E2%80%93Edgeworth_model" title="Bertrand–Edgeworth model">Bertrand–Edgeworth model</a></li> <li><a href="/wiki/Bertrand_model" class="mw-redirect" title="Bertrand model">Bertrand model</a></li> <li><a href="/wiki/Differentiated_Bertrand_competition" title="Differentiated Bertrand competition">Differentiated Bertrand competition</a></li> <li><a href="/wiki/Edgeworth_paradox" title="Edgeworth paradox">Edgeworth paradox</a></li> <li><a href="/wiki/Joseph_Bertrand" title="Joseph Bertrand">Joseph Bertrand</a></li> <li><a href="/wiki/Prisoner%27s_dilemma" title="Prisoner's dilemma">Prisoner's dilemma</a></li> <li><a href="/wiki/Hotelling%27s_law" title="Hotelling's law">Hotelling's law</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Bertrand_paradox_(economics)&action=edit&section=2" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style 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a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output 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title="Paradox of analysis">Analysis</a></li> <li><a href="/wiki/Buridan%27s_bridge" title="Buridan's bridge">Buridan's bridge</a></li> <li><a href="/wiki/Dream_argument" title="Dream argument">Dream argument</a></li> <li><a href="/wiki/Epicurean_paradox" title="Epicurean paradox">Epicurean</a></li> <li><a href="/wiki/Paradox_of_fiction" title="Paradox of fiction">Fiction</a></li> <li><a href="/wiki/Fitch%27s_paradox_of_knowability" title="Fitch's paradox of knowability">Fitch's knowability</a></li> <li><a href="/wiki/Argument_from_free_will" title="Argument from free will">Free will</a></li> <li><a href="/wiki/New_riddle_of_induction" title="New riddle of induction">Goodman's</a></li> <li><a href="/wiki/Paradox_of_hedonism" title="Paradox of hedonism">Hedonism</a></li> <li><a href="/wiki/Liberal_paradox" title="Liberal paradox">Liberal</a></li> <li><a href="/wiki/Meno" title="Meno">Meno's</a></li> <li><a href="/wiki/Mere_addition_paradox" title="Mere addition paradox">Mere addition</a></li> <li><a href="/wiki/Moore%27s_paradox" title="Moore's paradox">Moore's</a></li> <li><a href="/wiki/Newcomb%27s_paradox" title="Newcomb's paradox">Newcomb's</a></li> <li><a href="/wiki/Paradox_of_nihilism" title="Paradox of nihilism">Nihilism</a></li> <li><a href="/wiki/Omnipotence_paradox" title="Omnipotence paradox">Omnipotence</a></li> <li><a href="/wiki/Preface_paradox" title="Preface paradox">Preface</a></li> <li><a href="/wiki/Wittgenstein_on_Rules_and_Private_Language" title="Wittgenstein on Rules and Private Language">Rule-following</a></li> <li><a href="/wiki/Sorites_paradox" title="Sorites paradox">Sorites</a></li> <li><a href="/wiki/Ship_of_Theseus" title="Ship of Theseus">Theseus' ship</a></li> <li><a href="/wiki/White_Horse_Dialogue" title="White Horse Dialogue">White horse</a></li> <li><a href="/wiki/Zeno%27s_paradoxes" title="Zeno's paradoxes">Zeno's</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Logical</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Barber_paradox" title="Barber paradox">Barber</a></li> <li><a href="/wiki/Berry_paradox" title="Berry paradox">Berry</a></li> <li><a href="/wiki/Bhartrhari%27s_paradox" class="mw-redirect" title="Bhartrhari's paradox">Bhartrhari's</a></li> <li><a href="/wiki/Burali-Forti_paradox" title="Burali-Forti paradox">Burali-Forti</a></li> <li><a href="/wiki/Paradox_of_the_Court" title="Paradox of the Court">Court</a></li> <li><a href="/wiki/Crocodile_dilemma" title="Crocodile dilemma">Crocodile</a></li> <li><a href="/wiki/Curry%27s_paradox" title="Curry's paradox">Curry's</a></li> <li><a href="/wiki/Epimenides_paradox" title="Epimenides paradox">Epimenides</a></li> <li><a href="/wiki/Free_choice_inference" title="Free choice inference">Free choice paradox</a></li> <li><a href="/wiki/Grelling%E2%80%93Nelson_paradox" title="Grelling–Nelson paradox">Grelling–Nelson</a></li> <li><a href="/wiki/Kleene%E2%80%93Rosser_paradox" title="Kleene–Rosser paradox">Kleene–Rosser</a></li> <li><a href="/wiki/Liar_paradox" title="Liar paradox">Liar</a> <ul><li><a href="/wiki/Card_paradox" title="Card paradox">Card</a></li> <li><a href="/wiki/No%E2%80%93no_paradox" title="No–no paradox">No-no</a></li> <li><a href="/wiki/Pinocchio_paradox" title="Pinocchio paradox">Pinocchio</a></li> <li><a href="/wiki/Quine%27s_paradox" title="Quine's paradox">Quine's</a></li> <li><a href="/wiki/Yablo%27s_paradox" class="mw-redirect" title="Yablo's paradox">Yablo's</a></li></ul></li> <li><a href="/wiki/Opposite_Day" title="Opposite Day">Opposite Day</a></li> <li><a href="/wiki/Paradoxes_of_set_theory" title="Paradoxes of set theory">Paradoxes of set theory</a></li> <li><a href="/wiki/Richard%27s_paradox" title="Richard's paradox">Richard's</a></li> <li><a href="/wiki/Russell%27s_paradox" title="Russell's paradox">Russell's</a></li> <li><a href="/wiki/I_know_that_I_know_nothing" title="I know that I know nothing">Socratic</a></li> <li><a href="/wiki/Hilbert%27s_paradox_of_the_Grand_Hotel" title="Hilbert's paradox of the Grand Hotel">Hilbert's Hotel</a></li> <li><a href="/wiki/Temperature_paradox" title="Temperature paradox">Temperature paradox</a></li> <li><a href="/wiki/Barbershop_paradox" title="Barbershop paradox">Barbershop</a></li> <li><a href="/wiki/Catch-22_(logic)" title="Catch-22 (logic)">Catch-22</a></li> <li><a href="/wiki/Chicken_or_the_egg" title="Chicken or the egg">Chicken or the egg</a></li> <li><a href="/wiki/Drinker_paradox" title="Drinker paradox">Drinker</a></li> <li><a href="/wiki/Paradoxes_of_material_implication" title="Paradoxes of material implication">Entailment</a></li> <li><a href="/wiki/Lottery_paradox" title="Lottery paradox">Lottery</a></li> <li><a href="/wiki/Plato%27s_beard" title="Plato's beard">Plato's beard</a></li> <li><a href="/wiki/Raven_paradox" title="Raven paradox">Raven</a></li> <li><a href="/wiki/Imperative_logic#Ross's_paradox" title="Imperative logic">Ross's</a></li> <li><a href="/wiki/Unexpected_hanging_paradox" title="Unexpected hanging paradox">Unexpected hanging</a></li> <li>"<a href="/wiki/What_the_Tortoise_Said_to_Achilles" title="What the Tortoise Said to Achilles">What the Tortoise Said to Achilles</a>"</li> <li><a href="/wiki/Heat_death_paradox" title="Heat death paradox">Heat death paradox</a></li> <li><a href="/wiki/Olbers%27s_paradox" title="Olbers's paradox">Olbers's paradox</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Economic</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Allais_paradox" title="Allais paradox">Allais</a></li> <li><a href="/wiki/The_Antitrust_Paradox" title="The Antitrust Paradox">Antitrust</a></li> <li><a href="/wiki/Arrow_information_paradox" title="Arrow information paradox">Arrow information</a></li> <li><a class="mw-selflink selflink">Bertrand</a></li> <li><a href="/wiki/Braess%27s_paradox" title="Braess's paradox">Braess's</a></li> <li><a href="/wiki/Paradox_of_competition" title="Paradox of competition">Competition</a></li> <li><a href="/wiki/Income_and_fertility" title="Income and fertility">Income and fertility</a></li> <li><a href="/wiki/Downs%E2%80%93Thomson_paradox" title="Downs–Thomson paradox">Downs–Thomson</a></li> <li><a href="/wiki/Easterlin_paradox" title="Easterlin paradox">Easterlin</a></li> <li><a href="/wiki/Edgeworth_paradox" title="Edgeworth paradox">Edgeworth</a></li> <li><a href="/wiki/Ellsberg_paradox" title="Ellsberg paradox">Ellsberg</a></li> <li><a href="/wiki/European_paradox" title="European paradox">European</a></li> <li><a href="/wiki/Gibson%27s_paradox" title="Gibson's paradox">Gibson's</a></li> <li><a href="/wiki/Giffen_good" title="Giffen good">Giffen good</a></li> <li><a href="/wiki/Icarus_paradox" title="Icarus paradox">Icarus</a></li> <li><a href="/wiki/Jevons_paradox" title="Jevons paradox">Jevons</a></li> <li><a href="/wiki/Leontief_paradox" title="Leontief paradox">Leontief</a></li> <li><a href="/wiki/Lerner_paradox" title="Lerner paradox">Lerner</a></li> <li><a href="/wiki/Lucas_paradox" title="Lucas paradox">Lucas</a></li> <li><a href="/wiki/Mandeville%27s_paradox" title="Mandeville's paradox">Mandeville's</a></li> <li><a href="/wiki/Mayfield%27s_paradox" title="Mayfield's paradox">Mayfield's</a></li> <li><a href="/wiki/Metzler_paradox" title="Metzler paradox">Metzler</a></li> <li><a href="/wiki/Resource_curse" title="Resource curse">Plenty</a></li> <li><a href="/wiki/Productivity_paradox" title="Productivity paradox">Productivity</a></li> <li><a href="/wiki/Paradox_of_prosperity" title="Paradox of prosperity">Prosperity</a></li> <li><a href="/wiki/Scitovsky_paradox" title="Scitovsky paradox">Scitovsky</a></li> <li><a href="/wiki/Service_recovery_paradox" title="Service recovery paradox">Service recovery</a></li> <li><a href="/wiki/St._Petersburg_paradox" title="St. Petersburg paradox">St. Petersburg</a></li> <li><a href="/wiki/Paradox_of_thrift" title="Paradox of thrift">Thrift</a></li> <li><a href="/wiki/Paradox_of_toil" title="Paradox of toil">Toil</a></li> <li><a href="/wiki/Tullock_paradox" class="mw-redirect" title="Tullock paradox">Tullock</a></li> <li><a href="/wiki/Paradox_of_value" title="Paradox of value">Value</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Decision theory</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Abilene_paradox" title="Abilene paradox">Abilene</a></li> <li><a href="/wiki/Apportionment_paradox" title="Apportionment paradox">Apportionment</a> <ul><li><a href="/wiki/House_monotonicity" title="House monotonicity">Alabama</a></li> <li><a href="/wiki/Coherence_(fairness)" title="Coherence (fairness)">New states</a></li> <li><a href="/wiki/State-population_monotonicity" class="mw-redirect" title="State-population monotonicity">Population</a></li></ul></li> <li><a href="/wiki/Arrow%27s_impossibility_theorem" title="Arrow's impossibility theorem">Arrow's</a></li> <li><a href="/wiki/Buridan%27s_ass" title="Buridan's ass">Buridan's ass</a></li> <li><a href="/wiki/Chainstore_paradox" title="Chainstore paradox">Chainstore</a></li> <li><a href="/wiki/Condorcet_paradox" title="Condorcet paradox">Condorcet's</a></li> <li><a href="/wiki/Decision-making_paradox" title="Decision-making paradox">Decision-making</a></li> <li><a href="/wiki/Paradox_of_voting" title="Paradox of voting">Downs</a></li> <li><a href="/wiki/Ellsberg_paradox" title="Ellsberg paradox">Ellsberg</a></li> <li><a href="/wiki/Fenno%27s_paradox" title="Fenno's paradox">Fenno's</a></li> <li><a href="/wiki/Fredkin%27s_paradox" title="Fredkin's paradox">Fredkin's</a></li> <li><a href="/wiki/The_Green_Paradox" title="The Green Paradox">Green</a></li> <li><a href="/wiki/Hedgehog%27s_dilemma" title="Hedgehog's dilemma">Hedgehog's</a></li> <li><a href="/wiki/Inventor%27s_paradox" title="Inventor's paradox">Inventor's</a></li> <li><a href="/wiki/Kavka%27s_toxin_puzzle" title="Kavka's toxin puzzle">Kavka's toxin puzzle</a></li> <li><a href="/wiki/Morton%27s_fork" title="Morton's fork">Morton's fork</a></li> <li><a href="/wiki/Navigation_paradox" title="Navigation paradox">Navigation</a></li> <li><a href="/wiki/Newcomb%27s_paradox" title="Newcomb's paradox">Newcomb's</a></li> <li><a href="/wiki/Parrondo%27s_paradox" title="Parrondo's paradox">Parrondo's</a></li> <li><a href="/wiki/Preparedness_paradox" title="Preparedness paradox">Preparedness</a></li> <li><a href="/wiki/Prevention_paradox" title="Prevention paradox">Prevention</a></li> <li><a href="/wiki/Prisoner%27s_dilemma" title="Prisoner's dilemma">Prisoner's dilemma</a></li> <li><a href="/wiki/Paradox_of_tolerance" title="Paradox of tolerance">Tolerance</a></li> <li><a href="/wiki/Willpower_paradox" title="Willpower paradox">Willpower</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="noviewer" typeof="mw:File"><span title="List-Class article"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/16px-Symbol_list_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/23px-Symbol_list_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/31px-Symbol_list_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/List_of_paradoxes" title="List of paradoxes">List</a></li> <li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:Paradoxes" title="Category:Paradoxes">Category</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Topics_of_game_theory299" style="padding:3px"><table class="nowraplinks mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Game_theory" title="Template:Game theory"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Game_theory" title="Template talk:Game theory"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Game_theory" title="Special:EditPage/Template:Game theory"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Topics_of_game_theory299" style="font-size:114%;margin:0 4em">Topics of <a href="/wiki/Game_theory" title="Game theory">game theory</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Definitions</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Congestion_game" title="Congestion game">Congestion game</a></li> <li><a href="/wiki/Cooperative_game_theory" title="Cooperative game theory">Cooperative game</a></li> <li><a href="/wiki/Determinacy" title="Determinacy">Determinacy</a></li> <li><a href="/wiki/Escalation_of_commitment" title="Escalation of commitment">Escalation of commitment</a></li> <li><a href="/wiki/Extensive-form_game" title="Extensive-form game">Extensive-form game</a></li> <li><a href="/wiki/First-player_and_second-player_win" title="First-player and second-player win">First-player and second-player win</a></li> <li><a href="/wiki/Game_complexity" title="Game complexity">Game complexity</a></li> <li><a href="/wiki/Graphical_game_theory" title="Graphical game theory">Graphical game</a></li> <li><a href="/wiki/Hierarchy_of_beliefs" title="Hierarchy of beliefs">Hierarchy of beliefs</a></li> <li><a href="/wiki/Information_set_(game_theory)" title="Information set (game theory)">Information set</a></li> <li><a href="/wiki/Normal-form_game" title="Normal-form game">Normal-form game</a></li> <li><a href="/wiki/Perfect_recall_(game_theory)" title="Perfect recall (game theory)">Perfect recall</a></li> <li><a href="/wiki/Preference_(economics)" title="Preference (economics)">Preference</a></li> <li><a href="/wiki/Sequential_game" title="Sequential game">Sequential game</a></li> <li><a href="/wiki/Simultaneous_game" title="Simultaneous game">Simultaneous game</a></li> <li><a href="/wiki/Simultaneous_action_selection" title="Simultaneous action selection">Simultaneous action selection</a></li> <li><a href="/wiki/Solved_game" title="Solved game">Solved game</a></li> <li><a href="/wiki/Succinct_game" title="Succinct game">Succinct game</a></li> <li><a href="/wiki/Mechanism_design" title="Mechanism design">Mechanism design</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Economic_equilibrium" title="Economic equilibrium">Equilibrium</a><br /><a href="/wiki/Solution_concept" title="Solution concept">concepts</a></th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bayes_correlated_equilibrium" title="Bayes correlated equilibrium">Bayes correlated equilibrium</a></li> <li><a href="/wiki/Bayesian_Nash_equilibrium" class="mw-redirect" title="Bayesian Nash equilibrium">Bayesian Nash equilibrium</a></li> <li><a href="/wiki/Berge_equilibrium" title="Berge equilibrium">Berge equilibrium</a></li> <li><a href="/wiki/Core_(game_theory)" title="Core (game theory)"> Core</a></li> <li><a href="/wiki/Correlated_equilibrium" title="Correlated equilibrium">Correlated equilibrium</a></li> <li><a href="/wiki/Coalition-proof_Nash_equilibrium" title="Coalition-proof Nash equilibrium">Coalition-proof Nash equilibrium</a></li> <li><a href="/wiki/Epsilon-equilibrium" title="Epsilon-equilibrium">Epsilon-equilibrium</a></li> <li><a href="/wiki/Evolutionarily_stable_strategy" title="Evolutionarily stable strategy">Evolutionarily stable strategy</a></li> <li><a href="/wiki/Gibbs_measure" title="Gibbs measure">Gibbs equilibrium</a></li> <li><a href="/wiki/Mertens-stable_equilibrium" title="Mertens-stable equilibrium">Mertens-stable equilibrium</a></li> <li><a href="/wiki/Markov_perfect_equilibrium" title="Markov perfect equilibrium">Markov perfect equilibrium</a></li> <li><a href="/wiki/Nash_equilibrium" title="Nash equilibrium">Nash equilibrium</a></li> <li><a href="/wiki/Pareto_efficiency" title="Pareto efficiency">Pareto efficiency</a></li> <li><a href="/wiki/Perfect_Bayesian_equilibrium" title="Perfect Bayesian equilibrium">Perfect Bayesian equilibrium</a></li> <li><a href="/wiki/Proper_equilibrium" title="Proper equilibrium">Proper equilibrium</a></li> <li><a href="/wiki/Quantal_response_equilibrium" title="Quantal response equilibrium">Quantal response equilibrium</a></li> <li><a href="/wiki/Quasi-perfect_equilibrium" title="Quasi-perfect equilibrium">Quasi-perfect equilibrium</a></li> <li><a href="/wiki/Risk_dominance" title="Risk dominance">Risk dominance</a></li> <li><a href="/wiki/Satisfaction_equilibrium" title="Satisfaction equilibrium">Satisfaction equilibrium</a></li> <li><a href="/wiki/Self-confirming_equilibrium" title="Self-confirming equilibrium">Self-confirming equilibrium</a></li> <li><a href="/wiki/Sequential_equilibrium" title="Sequential equilibrium">Sequential equilibrium</a></li> <li><a href="/wiki/Shapley_value" title="Shapley value">Shapley value</a></li> <li><a href="/wiki/Strong_Nash_equilibrium" title="Strong Nash equilibrium">Strong Nash equilibrium</a></li> <li><a href="/wiki/Subgame_perfect_equilibrium" title="Subgame perfect equilibrium">Subgame perfection</a></li> <li><a href="/wiki/Trembling_hand_perfect_equilibrium" title="Trembling hand perfect equilibrium">Trembling hand equilibrium</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Strategy_(game_theory)" title="Strategy (game theory)">Strategies</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Appeasement" title="Appeasement">Appeasement</a></li> <li><a href="/wiki/Backward_induction" title="Backward induction">Backward induction</a></li> <li><a href="/wiki/Bid_shading" title="Bid shading">Bid shading</a></li> <li><a href="/wiki/Collusion" title="Collusion">Collusion</a></li> <li><a href="/wiki/Cheap_talk" title="Cheap talk">Cheap talk</a></li> <li><a href="/wiki/De-escalation" title="De-escalation">De-escalation</a></li> <li><a href="/wiki/Deterrence_theory" title="Deterrence theory">Deterrence</a></li> <li><a href="/wiki/Conflict_escalation" title="Conflict escalation">Escalation</a></li> <li><a href="/wiki/Forward_induction" class="mw-redirect" title="Forward induction">Forward induction</a></li> <li><a href="/wiki/Grim_trigger" title="Grim trigger">Grim trigger</a></li> <li><a href="/wiki/Markov_strategy" title="Markov strategy">Markov strategy</a></li> <li><a href="/wiki/Pairing_strategy" title="Pairing strategy">Pairing strategy</a></li> <li><a href="/wiki/Strategic_dominance" title="Strategic dominance">Dominant strategies</a></li> <li><a href="/wiki/Strategy_(game_theory)" title="Strategy (game theory)">Pure strategy</a></li> <li><a href="/wiki/Strategy_(game_theory)#Mixed_strategy" title="Strategy (game theory)">Mixed strategy</a></li> <li><a href="/wiki/Strategy-stealing_argument" title="Strategy-stealing argument">Strategy-stealing argument</a></li> <li><a href="/wiki/Tit_for_tat" title="Tit for tat">Tit for tat</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Category:Game_theory_game_classes" title="Category:Game theory game classes">Classes<br />of games</a></th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Auction" title="Auction">Auction</a></li> <li><a href="/wiki/Bargaining_problem" class="mw-redirect" title="Bargaining problem">Bargaining problem</a></li> <li><a href="/wiki/Differential_game" title="Differential game">Differential game</a></li> <li><a href="/wiki/Global_game" title="Global game">Global game</a></li> <li><a href="/wiki/Intransitive_game" title="Intransitive game">Intransitive game</a></li> <li><a href="/wiki/Mean-field_game_theory" title="Mean-field game theory">Mean-field game</a></li> <li><a href="/wiki/N-player_game" title="N-player game"><i>n</i>-player game</a></li> <li><a href="/wiki/Perfect_information" title="Perfect information">Perfect information</a></li> <li><a href="/wiki/Poisson_games" class="mw-redirect" title="Poisson games">Large Poisson game</a></li> <li><a href="/wiki/Potential_game" title="Potential game">Potential game</a></li> <li><a href="/wiki/Repeated_game" title="Repeated game">Repeated game</a></li> <li><a href="/wiki/Screening_game" title="Screening game">Screening game</a></li> <li><a href="/wiki/Signaling_game" title="Signaling game">Signaling game</a></li> <li><a href="/wiki/Strictly_determined_game" title="Strictly determined game">Strictly determined game</a></li> <li><a href="/wiki/Stochastic_game" title="Stochastic game">Stochastic game</a></li> <li><a href="/wiki/Symmetric_game" title="Symmetric game">Symmetric game</a></li> <li><a href="/wiki/Zero-sum_game" title="Zero-sum game">Zero-sum game</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/List_of_games_in_game_theory" title="List of games in game theory">Games</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Go_(game)" title="Go (game)">Go</a></li> <li><a href="/wiki/Chess" title="Chess">Chess</a></li> <li><a href="/wiki/Infinite_chess" title="Infinite chess">Infinite chess</a></li> <li><a href="/wiki/Draughts" class="mw-redirect" title="Draughts">Checkers</a></li> <li><a href="/wiki/All-pay_auction" title="All-pay auction">All-pay auction</a></li> <li><a href="/wiki/Prisoner%27s_dilemma" title="Prisoner's dilemma">Prisoner's dilemma</a></li> <li><a href="/wiki/Gift-exchange_game" title="Gift-exchange game">Gift-exchange game</a></li> <li><a href="/wiki/Optional_prisoner%27s_dilemma" title="Optional prisoner's dilemma">Optional prisoner's dilemma</a></li> <li><a href="/wiki/Traveler%27s_dilemma" title="Traveler's dilemma">Traveler's dilemma</a></li> <li><a href="/wiki/Coordination_game" title="Coordination game">Coordination game</a></li> <li><a href="/wiki/Chicken_(game)" title="Chicken (game)">Chicken</a></li> <li><a href="/wiki/Centipede_game" title="Centipede game">Centipede game</a></li> <li><a href="/wiki/Lewis_signaling_game" title="Lewis signaling game">Lewis signaling game</a></li> <li><a href="/wiki/Volunteer%27s_dilemma" title="Volunteer's dilemma">Volunteer's dilemma</a></li> <li><a href="/wiki/Dollar_auction" title="Dollar auction">Dollar auction</a></li> <li><a href="/wiki/Battle_of_the_sexes_(game_theory)" title="Battle of the sexes (game theory)">Battle of the sexes</a></li> <li><a href="/wiki/Stag_hunt" title="Stag hunt">Stag hunt</a></li> <li><a href="/wiki/Matching_pennies" title="Matching pennies">Matching pennies</a></li> <li><a href="/wiki/Ultimatum_game" title="Ultimatum game">Ultimatum game</a></li> <li><a href="/wiki/Electronic_mail_game" title="Electronic mail game">Electronic mail game</a></li> <li><a href="/wiki/Rock_paper_scissors" title="Rock paper scissors">Rock paper scissors</a></li> <li><a href="/wiki/Pirate_game" title="Pirate game">Pirate game</a></li> <li><a href="/wiki/Dictator_game" title="Dictator game">Dictator game</a></li> <li><a href="/wiki/Public_goods_game" title="Public goods game">Public goods game</a></li> <li><a href="/wiki/Blotto_game" title="Blotto game">Blotto game</a></li> <li><a href="/wiki/War_of_attrition_(game)" title="War of attrition (game)">War of attrition</a></li> <li><a href="/wiki/El_Farol_Bar_problem" title="El Farol Bar problem">El Farol Bar problem</a></li> <li><a href="/wiki/Fair_division" title="Fair division">Fair division</a></li> <li><a href="/wiki/Fair_cake-cutting" title="Fair cake-cutting">Fair cake-cutting</a></li> <li><a href="/wiki/Bertrand_competition" title="Bertrand competition">Bertrand competition</a></li> <li><a href="/wiki/Cournot_competition" title="Cournot competition">Cournot competition</a></li> <li><a href="/wiki/Stackelberg_competition" title="Stackelberg competition">Stackelberg competition</a></li> <li><a href="/wiki/Deadlock_(game_theory)" title="Deadlock (game theory)">Deadlock</a></li> <li><a href="/wiki/Unscrupulous_diner%27s_dilemma" title="Unscrupulous diner's dilemma">Diner's dilemma</a></li> <li><a href="/wiki/Guess_2/3_of_the_average" title="Guess 2/3 of the average">Guess 2/3 of the average</a></li> <li><a href="/wiki/Kuhn_poker" title="Kuhn poker">Kuhn poker</a></li> <li><a href="/wiki/Bargaining_problem" class="mw-redirect" title="Bargaining problem">Nash bargaining game</a></li> <li><a href="/wiki/Induction_puzzles" title="Induction puzzles">Induction puzzles</a></li> <li><a href="/wiki/Dictator_game#Trust_game" title="Dictator game">Trust game</a></li> <li><a href="/wiki/Princess_and_monster_game" title="Princess and monster game">Princess and monster game</a></li> <li><a href="/wiki/Rendezvous_problem" title="Rendezvous problem">Rendezvous problem</a></li> <li><a href="/wiki/Pursuit%E2%80%93evasion" title="Pursuit–evasion">Pursuit game</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Theorems</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aumann%27s_agreement_theorem" title="Aumann's agreement theorem">Aumann's agreement theorem</a></li> <li><a href="/wiki/Folk_theorem_(game_theory)" title="Folk theorem (game theory)">Folk theorem</a></li> <li><a href="/wiki/Minimax" title="Minimax">Minimax theorem</a></li> <li><a href="/wiki/Nash_equilibrium" title="Nash equilibrium">Nash's theorem</a></li> <li><a href="/wiki/Negamax" title="Negamax">Negamax theorem</a></li> <li><a href="/wiki/One-shot_deviation_principle" title="One-shot deviation principle">One-shot deviation principle</a></li> <li><a href="/wiki/Purification_theorem" title="Purification theorem">Purification theorem</a></li> <li><a href="/wiki/Revelation_principle" title="Revelation principle">Revelation principle</a></li> <li><a href="/wiki/Sprague%E2%80%93Grundy_theorem" title="Sprague–Grundy theorem">Sprague–Grundy theorem</a></li> <li><a href="/wiki/Zermelo%27s_theorem_(game_theory)" title="Zermelo's theorem (game theory)">Zermelo's theorem</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Key<br />figures</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Albert_W._Tucker" title="Albert W. Tucker">Albert W. Tucker</a></li> <li><a href="/wiki/Amos_Tversky" title="Amos Tversky">Amos Tversky</a></li> <li><a href="/wiki/Antoine_Augustin_Cournot" title="Antoine Augustin Cournot">Antoine Augustin Cournot</a></li> <li><a href="/wiki/Ariel_Rubinstein" title="Ariel Rubinstein">Ariel Rubinstein</a></li> <li><a href="/wiki/Claude_Shannon" title="Claude Shannon">Claude Shannon</a></li> <li><a href="/wiki/Daniel_Kahneman" title="Daniel Kahneman">Daniel Kahneman</a></li> <li><a href="/wiki/David_K._Levine" title="David K. Levine">David K. Levine</a></li> <li><a href="/wiki/David_M._Kreps" title="David M. Kreps">David M. Kreps</a></li> <li><a href="/wiki/Donald_B._Gillies" title="Donald B. Gillies">Donald B. Gillies</a></li> <li><a href="/wiki/Drew_Fudenberg" title="Drew Fudenberg">Drew Fudenberg</a></li> <li><a href="/wiki/Eric_Maskin" title="Eric Maskin">Eric Maskin</a></li> <li><a href="/wiki/Harold_W._Kuhn" title="Harold W. Kuhn">Harold W. Kuhn</a></li> <li><a href="/wiki/Herbert_A._Simon" title="Herbert A. Simon">Herbert Simon</a></li> <li><a href="/wiki/Herv%C3%A9_Moulin" title="Hervé Moulin">Hervé Moulin</a></li> <li><a href="/wiki/John_Conway" class="mw-redirect" title="John Conway">John Conway</a></li> <li><a href="/wiki/Jean_Tirole" title="Jean Tirole">Jean Tirole</a></li> <li><a href="/wiki/Jean-Fran%C3%A7ois_Mertens" title="Jean-François Mertens">Jean-François Mertens</a></li> <li><a href="/wiki/Jennifer_Tour_Chayes" title="Jennifer Tour Chayes">Jennifer Tour Chayes</a></li> <li><a href="/wiki/John_Harsanyi" title="John Harsanyi">John Harsanyi</a></li> <li><a href="/wiki/John_Maynard_Smith" title="John Maynard Smith">John Maynard Smith</a></li> <li><a href="/wiki/John_Forbes_Nash_Jr." title="John Forbes Nash Jr.">John Nash</a></li> <li><a href="/wiki/John_von_Neumann" title="John von Neumann">John von Neumann</a></li> <li><a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Kenneth Arrow</a></li> <li><a href="/wiki/Kenneth_Binmore" title="Kenneth Binmore">Kenneth Binmore</a></li> <li><a href="/wiki/Leonid_Hurwicz" title="Leonid Hurwicz">Leonid Hurwicz</a></li> <li><a href="/wiki/Lloyd_Shapley" title="Lloyd Shapley">Lloyd Shapley</a></li> <li><a href="/wiki/Melvin_Dresher" title="Melvin Dresher">Melvin Dresher</a></li> <li><a href="/wiki/Merrill_M._Flood" title="Merrill M. Flood">Merrill M. Flood</a></li> <li><a href="/wiki/Olga_Bondareva" title="Olga Bondareva">Olga Bondareva</a></li> <li><a href="/wiki/Oskar_Morgenstern" title="Oskar Morgenstern">Oskar Morgenstern</a></li> <li><a href="/wiki/Paul_Milgrom" title="Paul Milgrom">Paul Milgrom</a></li> <li><a href="/wiki/Peyton_Young" title="Peyton Young">Peyton Young</a></li> <li><a href="/wiki/Reinhard_Selten" title="Reinhard Selten">Reinhard Selten</a></li> <li><a href="/wiki/Robert_Axelrod_(political_scientist)" title="Robert Axelrod (political scientist)">Robert Axelrod</a></li> <li><a href="/wiki/Robert_Aumann" title="Robert Aumann">Robert Aumann</a></li> <li><a href="/wiki/Robert_B._Wilson" title="Robert B. Wilson">Robert B. Wilson</a></li> <li><a href="/wiki/Roger_Myerson" title="Roger Myerson">Roger Myerson</a></li> <li><a href="/wiki/Samuel_Bowles_(economist)" title="Samuel Bowles (economist)"> Samuel Bowles</a></li> <li><a href="/wiki/Suzanne_Scotchmer" title="Suzanne Scotchmer">Suzanne Scotchmer</a></li> <li><a href="/wiki/Thomas_Schelling" title="Thomas Schelling">Thomas Schelling</a></li> <li><a href="/wiki/William_Vickrey" title="William Vickrey">William Vickrey</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Search optimizations</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Alpha%E2%80%93beta_pruning" title="Alpha–beta pruning">Alpha–beta pruning</a></li> <li><a href="/wiki/Aspiration_window" title="Aspiration window">Aspiration window</a></li> <li><a href="/wiki/Principal_variation_search" title="Principal variation search">Principal variation search</a></li> <li><a href="/wiki/Max%5En_algorithm" title="Max^n algorithm">max^n algorithm</a></li> <li><a href="/wiki/Paranoid_algorithm" title="Paranoid algorithm">Paranoid algorithm</a></li> <li><a href="/wiki/Lazy_SMP" title="Lazy SMP">Lazy SMP</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Miscellaneous</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bounded_rationality" title="Bounded rationality">Bounded rationality</a></li> <li><a href="/wiki/Combinatorial_game_theory" title="Combinatorial game theory">Combinatorial game theory</a></li> <li><a href="/wiki/Confrontation_analysis" title="Confrontation analysis">Confrontation analysis</a></li> <li><a href="/wiki/Coopetition" title="Coopetition">Coopetition</a></li> <li><a href="/wiki/Evolutionary_game_theory" title="Evolutionary game theory">Evolutionary game theory</a></li> <li><a href="/wiki/Glossary_of_game_theory" title="Glossary of game theory">Glossary of game theory</a></li> <li><a href="/wiki/List_of_game_theorists" title="List of game theorists">List of game theorists</a></li> <li><a href="/wiki/List_of_games_in_game_theory" title="List of games in game theory">List of games in game theory</a></li> <li><a href="/wiki/No-win_situation" title="No-win situation">No-win situation</a></li> <li><a href="/wiki/Topological_game" title="Topological game">Topological game</a></li> <li><a href="/wiki/Tragedy_of_the_commons" title="Tragedy of the commons">Tragedy of the commons</a></li></ul> </div></td></tr></tbody></table></div>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?useformat=desktop&type=1x1&usesul3=0" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Retrieved from "<a dir="ltr" href="https://en.wikipedia.org/w/index.php?title=Bertrand_paradox_(economics)&oldid=1256022715">https://en.wikipedia.org/w/index.php?title=Bertrand_paradox_(economics)&oldid=1256022715</a>"</div></div> <div id="catlinks" class="catlinks" data-mw="interface"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><a href="/wiki/Help:Category" title="Help:Category">Categories</a>: <ul><li><a href="/wiki/Category:Eponymous_paradoxes" title="Category:Eponymous paradoxes">Eponymous paradoxes</a></li><li><a href="/wiki/Category:Paradoxes_in_economics" title="Category:Paradoxes in economics">Paradoxes in economics</a></li><li><a href="/wiki/Category:Game_theory" title="Category:Game theory">Game theory</a></li></ul></div></div> </div> </main> </div> <div class="mw-footer-container"> <footer id="footer" class="mw-footer" > <ul id="footer-info"> <li id="footer-info-lastmod"> This page was last edited on 7 November 2024, at 20:51<span class="anonymous-show"> (UTC)</span>.</li> <li id="footer-info-copyright">Text is available under the <a href="/wiki/Wikipedia:Text_of_the_Creative_Commons_Attribution-ShareAlike_4.0_International_License" title="Wikipedia:Text of the Creative Commons Attribution-ShareAlike 4.0 International License">Creative Commons Attribution-ShareAlike 4.0 License</a>; additional terms may apply. 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