The Benefits of Cooperation: Nash Bargaining and Bitcoin

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“Economics I think is sort of like accounting — you know, it doesn’t immediately have any morals. You could go into welfare economics, you try to think of some human values or you go into variations.” – John F. Nash Jr., The University of Scranton, November, 2011.

This quotation from John Forbes Nash Jr. is taken from a lecture Nash gave on “Ideal Money and the Motivations of Savings and Thrift”, some 61 years after the publication of his first game theory paper simply named “The Bargaining…

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