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Handelsblatt Global, 09.07.2018 | Malte Fischer and Fabian Ritters
“German economists are turning to game theory, the study of conflict and cooperation using mathematical models, to figure out what the EU’s best strategy might be. Should the EU hit back at Donald Trump’s tariffs, as China has done, or would that just make a bad situation worse? Game theory predicts that a trade war is the most likely outcome and could stick around for a long time. For Axel Ockenfels, one of the country’s leading economists who specialized in game theory, the situation is clear: “The trade conflict between the United States and the EU can be described with a classic game theory scenario: the Prisoner’s Dilemma.””
Link to article: https://global.handelsblatt.com/politics/trade-wars-game-theory-943060