The Property Strategy Jun 17, 2015
Property can be described many ways. It can be described as a legal or moral concept. It can be thought of as an economic or political concept. However, property is fundamentally a strategy to avoid conflict that arises from competition over scarce resources. To understand property better let’s consider a game from game theory called the Hawk-Dove game also know as the War of Attrition. In the Hawk-Dove game two players are in competition for a valued resource. Each turn a player can either share or take all. The take strategy is called hawk and the share strategy is called...
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