2012-10-01

[public] 6.03M views, 137K likes, dislikes audio only

TED-Ed

View full lesson on ed.ted.com - http://ed.ted.com/lessons/why-do-competitors-open-their-stores-next-to-one-another-jac-de-haan

Why are all the gas stations, cafes and restaurants in one crowded spot? As two competitive cousins vie for ice-cream-selling domination on one small beach, discover how game theory and the Nash Equilibrium inform these retail hotspots.

Lesson by Jac de Haan, animation by Luke Rowsell.