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  2. When life gives you lemons, make lemonade - Wikipedia

    en.wikipedia.org/wiki/When_life_gives_you_lemons...

    Drinking lemonade is usually considered more pleasant than eating raw lemons. When life gives you lemons, make lemonade is a proverbial phrase used to encourage optimism and a positive can-do attitude in the face of adversity or misfortune. Lemons suggest sourness or difficulty in life; making lemonade is turning them into something positive or ...

  3. Game theory - Wikipedia

    en.wikipedia.org/wiki/Game_theory

    Separately, game theory has played a role in online algorithms; in particular, the k-server problem, which has in the past been referred to as games with moving costs and request-answer games. [124] Yao's principle is a game-theoretic technique for proving lower bounds on the computational complexity of randomized algorithms , especially online ...

  4. Bayesian game - Wikipedia

    en.wikipedia.org/wiki/Bayesian_game

    In game theory, a Bayesian game is a strategic decision-making model which assumes players have incomplete information. Players may hold private information relevant to the game, meaning that the payoffs are not common knowledge. [1] Bayesian games model the outcome of player interactions using aspects of Bayesian probability.

  5. Fake Trump rant about Panera’s Charged Lemonade goes viral

    www.aol.com/fake-trump-rant-panera-charged...

    “When life hands you lemons, Joe Biden kills you with them.” The screenshots appeared to have been taken from a recent Trump speech in Iowa. But a review of that speech showed Mr Trump never ...

  6. The Market for Lemons - Wikipedia

    en.wikipedia.org/wiki/The_Market_for_Lemons

    The Market for 'Lemons': Quality Uncertainty and the Market Mechanism" [1] is a widely cited seminal paper in the field of economics which explores the concept of asymmetric information in markets. The paper was written in 1970 by George Akerlof and published in the Quarterly Journal of Economics .

  7. Ludic fallacy - Wikipedia

    en.wikipedia.org/wiki/Ludic_fallacy

    The ludic fallacy, proposed by Nassim Nicholas Taleb in his book The Black Swan , is "the misuse of games to model real-life situations". [1] Taleb explains the fallacy as "basing studies of chance on the narrow world of games and dice". [2] The adjective ludic originates from the Latin noun ludus, meaning "play, game, sport, pastime". [3]

  8. History of microeconomics - Wikipedia

    en.wikipedia.org/wiki/History_of_microeconomics

    A good example of how microeconomics started to incorporate game theory, is the Stackelberg competition model published in that same year of 1934, [27] which can be characterised as a dynamic game with a leader and a follower, and then be solved to find a Nash Equilibrium, named after John Nash who gave a very general definition of it.

  9. No-win situation - Wikipedia

    en.wikipedia.org/wiki/No-win_situation

    Carl von Clausewitz's advice never to launch a war that one has not already won characterizes war as a no-win situation. A similar example is the Pyrrhic victory in which a military victory is so costly that the winning side actually ends up worse off than before it started. Looking at the victory as a part of a larger situation, the situation ...