Why do competitors open their stores next to one another? - Jac de Haanby TED-Ed 4 years ago
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.