State-Society-Culture Dynamics

Let's hear it from the LSE: Not punishment or revenge, but stone-cold sober calculations: the EU will drive a hard bargain Twitter Facebook LinkedIn WhatsApp Email Share Having triggered Article 50 of the EU Treaty, the British government officially kicked off the Brexit negotiations on March 29. Until today, both parties pretended not to give in and instead promised a tough negotiation strategy. Game theory offers one way of testing the reliability of these claims and allowing the negotiations to be seen for what they are: a strategically driven, tactical game in which each side attempts to realise their own interests, write  Berthold Busch, Matthias Diermeier, Henry Goecke, and Michael Hüther. From the perspective of game theory, the search for the optimal negotiation strategy for the UK’s exit from the EU can be stylised as follows: both players, the UK and the EU, simultaneously choose between only two negotiation strategies – one compromising and the ot...