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In a paper, "The Descriptive and Prescriptive Use of Previous Purchase Price in Negotiations," published in Organizational Behavior and Human Decision Processes in 1996, researchers concluded that considering what a seller paid previously -- what's known as sunk costs -- can be strategically rational if the seller is, in fact, influenced by that amount.
These purchaser differentials may reflect their intentional policies to pay prices sufficiently high to continue to attract multiple bidders to this market, which would be strategically rational for large purchasers.
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Of course, this doesn't prove that the Democratic voters of Pennsylvania took all this into account and consciously made a rational, strategically thought-out choice.
I argue that if the design of an arrangement affects trading outcomes, then rational, strategically-acting agents will opt for the arrangement that facilitates trading and leads to price discovery.
Since game theory is about economically rational action given the strategically significant actions of others, it should not surprise you to be told that what agents in games believe, or fail to believe, about each others' actions makes a considerable difference to the logic of our analyses, as we will see.
He argued that cooperation of the species may not always be rational on the individual level, but will be strategically beneficial for a group as long as the results of collaboration are larger for the group than the sum of individual efforts of its members.
Usually strategically.
Strategically placed burger & chips?
Use that feedback strategically.
Strategically, Kandahar is critical.
Strategically, this makes sense.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com