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The Game of Chicken as a Strategic Model for Conflict, Bargaining, and Decision-Making in Political Economy
The Game of Chicken is one of the most useful models in #game_theory for understanding conflict, bargaining, and decision-making under pressure. It describes a situation in which two actors move toward a dangerous outcome, while each hopes the other will give way first. If one actor yields and the other remains firm, the firm actor appears stronger. If both yield, conflict is avoided but neither side fully dominates. If both refuse to adjust, the result may be costly or even
7 hours ago25 min read
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