Balbien: Let economic theory guide tax reform
By Joel Balbien In an ideal world, governments operate under balanced budgets and taxes on the private sector and individuals are structured to minimize adverse changes in economic behavior. Good public policy funds government services demanded by voters and paid for by taxpayers while sustaining competitive levels of private sector production, sale of goods of Read More →
Balbien: Game theory can reform health care industry
By Joel Balbien Economists use game theory to model interactions among patients and doctors where there is strategic behavior by agents who understand that their actions affect the actions of others. It is assumed that each agent has a best response to the actions of all other players, and that this can lead to predictable Read More →
Game theory gives entrepreneurs an edge
By Joel Balbien Economists use game theory to model interactions among firms, customers, regulators and other market participants where there is strategic behavior by these agents who understand that their actions affect the actions of others. It is assumed that each agent has a best response to the actions of all other players, and that Read More →
