Is Kim Jong-un rational? →

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One of the central assumptions in basic economic theory is that agents are rational. However, behavioral economists question this assumption.

Recently, some have questioned whether the leader of North Korea is rational. However, do we need Kim Jong-un to be rational or just predictably irrational?

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B-2 Bombers Over South Korea →

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This seems like a game of tit for tat. Kim Jong Un makes threats, and the U.S. responds by sending B-2 bombers to fly over South Korea. Unfortunately for the U.S., this game is highly asymmetrical — the cost of a B-2 flight hour is higher than any other plane in the Air Force inventory.

Is tit for tat the proper strategy for the U.S. to use in response to North Korean provocations? Do military strategists study game theory?