David Romer
David Romer
David Romeris an American economist, the Herman Royer Professor of Political Economy at the University of California, Berkeley, the author of a standard textbook in graduate macroeconomics as well as many influential economic papers, particularly in the area of New Keynesian economics. He is also the husband and close collaborator of Council of Economic Advisers former Chairwoman Christina Romer...
cost faces large losing maximize team thus won
At the end of the game, one team will have won and the other will have lost. Thus even a decision-maker who faces a large cost of losing should maximize the probability of winning.