Economics and finance suffered two tragedies in the past week: the death of the Nobel laureate John Nash and his wife in a horrible car accident, and more delays from Greece and its creditors in reaching an agreement on a path out of the costly and protracted crisis.
At first sight there seem to be little to link the two tragedies. Yet the game theory insights that John Nash pioneered -- including the concept of a "cooperative game" -- shed important light on what is happening in Greece, and help explain why the drama is unlikely to have a happy ending anytime soon.
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