NBA Lockout
http://www.nytimes.com/2011/11/11/sports/basketball/imminent-deal-in-nba-no-but-sides-keep-negotiating.html?_r=1&ref=sports
The NBA is currently in a lockout and more and more of the season is disappearing. The players and the owners cannot seem to get anything accomplished and some even think that the situation is getting worse. Some believe that the two sides have taken a few steps back from where they were not too long ago. Obviously both sides are unwilling to compromise at this point, but the main question remains, will there be basketball this year?
This obviously related to networks because of the negotiations and all that is involved in that. When two groups of people are required to come together and get something accomplished, it’s hard for everyone to get exactly what they want. According to Jon Nash, there is an equilibrium in this game and the two sides should be able to reach an agreement, unfortunately there is not a dominant strategy for either side so right now they are stuck in a stalemate. Both sides need to consider the payouts. The players are arguing that deserve higher percentages of the profit, however when they are not playing (right now) they are not being payed at all and therefore are suffering right now. Both sides need to come together and reach an agreement so that everyone can be happy again. The league will start to make revenue again and the players will start to get their salaries again and the fans will all be happy. The Nash Equilibrium here is that both sides should reach an agreement so that both can benefit.