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.

Over the course of the 21st century, several mutual defense pacts that looked ironclad on paper have collapsed under fire. As ...

HAYWARD, Calif. -- There seems to be a strategy for almost everything-- for dieting, investing and even for winning games. The 14-day winning streak for 35-year-old James Holzhauer on "Jeopardy!" has ...

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 ...

Game theory has long served as a cornerstone in understanding competitive strategies in markets where few firms operate. In particular, duopoly and oligopoly frameworks illustrate how firms’ strategic ...