For those who enjoyed the hand-shaking puzzle, here's a problem from the mid-term exam of my undergraduate Economics game-theory class...
A sheep sits in the middle of a field surrounded by n lions (where n is some number greater than 10). Any lion can eat the sheep but, as each lion knows, it would become so tired that it would be as defenseless as a sheep itself--easy prey for another hungry lion who would in turn become tired and defenseless. The lions are all hungry (equally so for lamb or lion meat), super rational, but naturally not suicidal. Does the nearest lion, or any lion for that matter, pounce on the tasty ovine?
The solution to this puzzle illustrates a point that I will reference in my next post. Eventually, I really will show some relevance to venture capital (beyond the obvious metaphor of nasty lions devouring poor helpless lambs).
Meanwhile, be the "first person on the blog" to post the correct answer (a simple yes or no without proof will not suffice)!