Matthew Rabin Quote: "A colleague saw the same model-calibrating the ..."

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A colleague saw the same model-calibrating the elasticity of demand facing a Cournot oligopolist as a function of the number of firms in the industry--described at the University of Chicago and at M.I.T. A Chicago economist derived the formula and said, "Look at how few firms you need to get close to infinite elasticities and perfect competition." An M.I.T. economist derived the same formula and said, "Look at how large n has to be before you get anywhere close to an infinite elasticity and perfect competition."

Matthew Rabin /
Competition
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A colleague saw the same model-calibrating the elasticity of demand facing a Cournot oligopolist as a function of the number of firms in the industry--described at the University of Chicago and at M.I.T. A Chicago economist derived the formula and said, "Look at how few firms you need to get close to infinite elasticities and perfect competition." An M.I.T. economist derived the same formula and said, "Look at how large n has to be before you get anywhere close to an infinite elasticity and perfect competition."

⇛ Matthew Rabin ()

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The more successful you become, the more the demands of your ego will increase. In the beginning, you simply want to succeed, but your ego will not be satisfied. When you become a little more successful your ego wants to kill your competition. And when you become even more successful, it wants to make you the universal king. There's no telling what ego wants because our desire doesn't have any limit; therefore, its demands continually increase.

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When you start out as a filmmaker, you do parodies, because you can't really compete on a studio level.

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Those who can ask without shame are viewing themselves in collaboration with-rather than in competition with-the world.

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If there ever was a time for a cool, rational and unemotional series of responses on the part of people in Europe, it is now. One reason is that Russia's President Vladimir Putin and Trump are very similar: They are macho types, they are bullies - and they want the same thing: to weaken the EU, albeit for different reasons. Trump, for his part, is a protectionist of the first order, and he wants to make his vision work. He shows no interest in competition with others, but aims to go back to the 1930s.

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Life is a kind of Chess, with struggle, competition, good and ill events.

Benjamin Franklin Founding Father Of The United States

The competition to hire the best will increase in the years ahead. Companies that give extra flexibility to their employees will have the edge in this area.