I'm a microeconomist by training and use the economic theory of games throughout most of my research program. Game theory is used as a tool for economic analysis whenever two or more players (people, ...

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 ...

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 ...

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 prisoner's dilemma describes a situation in which two parties act on an incentive to protect themselves at the expense of the other. Find out how it works in economics.

When Science Meets Strategy: When energy systems expert Dalia Patino-Echeverri uncovered a way to make power grids more ...

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 ...

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 ...

In a recent artificial intelligence (AI) machine learning breakthrough in game theory, researchers solve a persistent problem with real-world applicability—for the better. At last month’s 34th ...

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 ...