About The Consumer Law Office of Steve Hofer

Steve Hofer has been practicing consumer law in Indiana for more than 20 years. He is a former Indiana State Chairperson of the National Association of Consumer Advocates, a national organization of attorneys striving for fairness in the consumer marketplace. Contact me by phone at 317-662-4529 or via email at hoferlawindyATgmail.com. You can also leave a message through my website at www.hoferlawindy.com.

Tuesday, November 22, 2022

Prisoner's Dilemma and Debt Negotiation

 I love having a partner (Keith Hagan) who an expert in game theory.  We have business clients (multiple) who are just mired in debt to multiple creditors, any one of which can shut them down to the point where they can't pay any of them.  My partner uses the Prisoner's Dilemma scenario to keep the creditors at bay. To overly simplify, the knowledge of each of the players is the key to the outcomes on the prisoner's dilemma scenario.  Keith takes this very academic theory and finds ways to apply it in real life.  It is amazing to watch him work sometimes.  

Prisoner's Dilemma

No comments:

Post a Comment