Economic Lessons from Friends: Ross and Joey Compete Using Game Theory
What happens when Joey and Ross date the same woman?
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Friends is one of the top TV shows of all time and also provides a number of economic lessons. In this video, we examine game theory. In this season 10 episode, Ross and Joey both want to date the same girl, and their competition emulates a prisoner's dilemma style game in game theory. Game theory involves strategic thinking by players to maximize their utility or happiness.
Ross and Joey initially discuss cooperating to let the woman, Kristen, choose between them, resembling a prisoner's dilemma. However, due to individual incentives, they end up competing, resulting in both making fools of themselves and losing Kristen's interest.
Learn a little more about game theory through this hilarious clip at the video below: