How do contemporary businesses utilize game theory?
Barry Nalebuff: Normally to fold your cards reminded me of an example on the card business. I think Hallmark [or] American Greeting Cards had done the study which convinced them that in-store printing of greeting cards was a disaster. That ultimately the cards weren’t very successful, it was too time consuming, it just wasn’t going to work. They could have just folded their cards and walked away, if you like, but they actually left the impression of this was the best thing since sliced white bread, and they created that impression in the market to the point where American Greeting Cards decided to really run with it big time, and preempt them, and that let American Greeting Cards down to dead end. There is another great example in the battle between Sky TV and British Satellite Broadcasting. This is not that different in the United States from our satellite radio; where there are two companies in the UK competing to see who is going to be the satellite TV broadcaster. And the UK, it’s
