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 ...

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 ...

If you can predict your opponent’s moves, your chances of success improve dramatically. This applies to gaming as well as business and finance. (Envato Elements pic) Game theory was coined in 1944 to ...

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

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 ...

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 ...

The Nobel Memorial Prize in Economic Science was awarded this morning to two scholars who developed the use of game theory to analyze public policy. Robert J. Aumann, a professor emeritus of ...

Alone, one hospital may not have a financial incentive to do contact-tracing, but a game-theory analysis shows if every hospital took this additional step, they would all benefit economically from ...

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 ...

Robert J Aumann, an Israeli-US citizen, and American Thomas C Schelling have been awarded the 2005 Nobel Economics Prize for explaining conflict and cooperation by means of game theory analysis. Their ...