Not every win requires someone else's equal loss

In a true zero-sum game, like splitting a fixed pot of money, one side's gain is exactly the other side's loss. But most real negotiations — trade deals, pay raises tied to growth, a business partnership — aren't fixed pies at all; both sides can end up better off. Treating a positive-sum situation as zero-sum is one of the most common reasoning mistakes in economics and negotiation.

— John von Neumann and Oskar Morgenstern, Theory of Games and Economic Behavior — 1944

One credited idea per card. No filler. Swipe the rest in Savvy.

Keep swiping — it's free Works right in your browser. No app store needed.

More Economics

All Economics cards →
More from John von Neumann →
More from Oskar Morgenstern →

Five ideas worth knowing, every week

The week's best cards and a puzzle, credited as always. Free, unsubscribe any time.