Season 4, Episode 10: In this clip, a former slave asks Daenerys to allow him to sell himself back to his master, citing poverty and problems with current benefits to the newly freed. This is related to the idea of path dependency, Path dependency is the idea that history matters: it’s easier or more cost-effective …
Season 5 Episode 9: Prince Doran Martell decides to ‘break bread’ with the Lannisters instead of waging war over past grievances. Ellaria Sand questions his decision, but Doran explains the cost of war. This is similar to the broken window fallacy. The broken window fallacy argues that spending money on infrastructure and goods that have …
Season 3 Episode 6: Tywin negotiates with Lady Tyrell to have her daughter marry Loras to Cersei. Lady Tyrell opposes, but then Tywin says he’d force Loras to join the Kings Guard if Lady Tyrell refused. Tywin decreased his Lady Tyrell’s Best Alternative to a Negotiated Agreement (BATNA). When that happens, Lady Tyrell accepts the …
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Season 1 Episode 6: The prison guard doesn’t trust that a prisoner will pay him. However, once he convinces the guard that he is a Lannister, the Lannister’s credit history – because a Lannister always pays his debt’s – helps convince the guard to help Tyrion.
Season 5 Episode 9: Mace Tyrell and a representative from the Iron Bank are discussing the ethics of charging interest for loans. It is noted that high interest payments are seen by some as distasteful and there are threats of legal actions for higher interest payments. Throughout history, in fact, there are times where certain …
Season 7 Episode 4: When there is creative destruction – i.e., new industries are formed and help make old jobs and industries obsolete, it can be chaotic. Bran tells Little Finger in this clip that “chaos is a ladder”, which is certainly true for career opportunities for those who enter into organizations and markets when …
Season 7, Episode 3: The Iron Bank of Braavos discusses their activity with the Master of Coin Mace Tyrell and states “we don’t make bets. We invest in endeavors we deem to be successful.” This highlights how banks try to make a profit where the odds are in their favor as opposed to different forms …
Season 3 Episode 9: Robb and Catelyn are considering attacking Casterly Rock, but can only do so with Walder Frey’s men. Must cement coalition with a marriage.
Season 7 Episode 4: Cersei invades Highgarden, coming into possession of much gold and with it she pays off the kingdom’s debts to the Iron Bank of Bravos. The Iron Bank had become fond of the interest payments the kingdom’s debts were building up and by paying off the debt the interest payments ended. This …
Season 1 Episode 3: There is a discussion on inefficient government spending (for the hand’s tournament). Government spending should almost always be more inefficient than private sector spending because governments don’t face the same constraint consumers do when spending on items that give the highest marginal utility per dollar.