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Understanding the EU referendum result

Does game theory shed light on Brexit?

Why did so many people in the UK vote for Brexit when economists were almost unanimous in viewing the likely effects to be damaging for the British economy? Edmund Cannon uses game theory to explore some possible reasons

Brexit, the British economy, game theory

The British electorate’s decision to leave the European Union (EU) in the referendum of 23 June 2016 came as a shock to many political commentators, including professional and academic economists. The majority of economists thought that leaving the EU would make people worse off, and for that reason the UK should vote to remain. Why did the electorate choose to leave?

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Previous

Benefit–cost analysis

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Making the most of your economics studies

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