Perspective
May 1, 2010
Bargaining in the Dark
Steven Pearl of The Pearl Law Firm considers what it is that allows parties to reach agreement when they do not know each other's preferences or attitudes toward risk.
Do you remember the film "A Beautiful Mind"? It won the Best Picture Oscar in 2002 and tells the story of John Forbes Nash Jr., a brilliant but troubled mathematician played by Russell Crowe. Unless you're a math geek, you probably don't know that Nash did his mathematical work in game theory. As shown in the film, Nash received the Nobel Prize in Economics in 1994. He shared the award with two others: Reinhard ...
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