Tuesday, November 05, 2024, 02:00pm - 03:00pm
The problem is motivated by a problem in micro-economics. Individual vendors along a road supply a commodity to consumers who are uniformly distributed along the road; consumers patronize the nearest vendor. Acting unilaterally, how should each of the individual vendors position themselves to maximize their respective market shares? Pure Nash equilibria provide an answer to this problem. Some connections to politics and anti-trust regulation will be discussed.
Location: PMA 12.166