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 ...

The recent paper studies algorithmic pricing through the lens of game theory, an interdisciplinary field at the border of ...

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 ...

Economic uncertainty, like we are living through right now, can make regular purchasing decisions challenging. Even more so decisions around big life moments, like changing your job, buying a house or ...

I n the epilogue of their blockbuster book Mostly Harmless Econometrics (2009), Josh Angrist and Steve Pischke write, “If applied econometrics were easy, theorists would do it.” As academic jokes go, ...

Two U.S. game theory specialists were awarded the Nobel prize in economic sciences for their groundbreaking research. Paul R Milgrom and Robert B Wilson won the award for their designs of mathematical ...

Ever wonder how nodes are incentivized in a blockchain to ensure trust, consensus and cooperation in a system with no central authority? The answer lies in game theory, the mathematical study of ...

Russia’s invasion of Ukraine is five months old, and no clear end is in sight. As the invasion turns into a long-term war, it’s time to think strategically about what can be done now to manage and ...

Ross's tactics have drawn the attention of those who study psychology and a branch of maths called game theory ...