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In the Context of Creation of New Technologies, Discuss the Benefits

question 9

Essay

In the context of creation of new technologies, discuss the benefits and ease of usage of the phone-based money transfer system called M-Pesa.


Definitions:

Strategic Game

A concept in game theory in which players are aware of the strategies of other participants and are making decisions based on predicting the actions of others.

Extensive Form

A way of representing a game in game theory that illustrates the sequence of moves, the knowledge of each player at different points, and their possible strategies.

Herfindahl Index

A measure of market concentration to assess the level of competition, calculated by squaring each firm's market share and then summing the total.

Market Shares

The portion of a market controlled by a particular company, often expressed as a percentage of total sales in the industry.

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