In rock-paper-scissors, the ideal strategy is simple: You should play a random move each round, choosing all three ...

Game theory gives you a systematic way to think through those possibilities and maximize overall welfare.” “Evolutionary change in response to human interventions, such as the evolution of resistance ...

Game theory helps investors predict outcomes in markets where decisions impact each other. Understanding game theory equips investors to strategically anticipate market actions. Game theory-informed ...

This is part of our “Econ Extra Credit” project, where we read an introductory economics textbook provided by the nonprofit Core Econ together with our listeners. Robots are doing their part during ...

So you’re standing at the edge of a cliff, chained by the ankle to someone else. You’ll be released, and one of you will get a large prize, as soon as the other gives in. How do you persuade the other ...

Human behavior drives the evolution of biological organisms in ways that can profoundly adversely impact human welfare. Understanding people's incentives when they do so is essential to identify ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

An analysis of the assumptions generally made in game theory is carried out. The analysis is used as a basis for a review of the collection of articles, dealing with recent developments in ...

Epistemic logic of shallow depths has been developed by Kaneko—Suzuki using classical logic. In this paper, we adopt intuitionistic logic as the base logic to limit each player's reasoning to ...

The Center for Mathematical Studies in Economics and Management Science (CMS-EMS) was created in 1971 to bring together economists, mathematicians, and social scientists at Northwestern University who ...