Prompt:

One way to do this is to find examples (in business newspapers or the internet) of your own of key concepts in the framework and how they impact other components in the framework (e.g., stakeholder/player mental models and how they may drive player strategies, the impact of transaction costs on player outcomes, examples of externalities, players trying to get the rules changed, etc.).

Here’s an example:

https://www.marketwatch.com/story/newest-science-myth-the-10000-step-rule-2019-05-30?mod=mw_theo_homepageLinks to an external site.

Since the introduction of Fitbit and other smart watches, many people have taken to counting the number of steps they take each day, to see if they were able to get to 10,000. This is based on the belief that taking 10,000 steps is either necessary or sufficient – it varies with individuals – to stay healthy (an example of a simple mental model). According to the article, there is NO scientific basis for this belief. The idea of taking 10,000 steps daily was a marketing campaign developed by a Japanese company, Yamasa Clock and Instrument Company. For a new pedometer (a device that counts the number of steps) the company came up with a Japanese brand name that translates to 10,000 steps. Limited scientific research shows that for elderly women 10,000 steps may not be necessary, while what works for men and younger people is not known. This is a good example of how incorrect mental models can, and continue to, drive player behavior.