For example, what distinguishes game theory, and economics generally, from other social science approaches is its emphasis on individual choice. That’s how economists explain behavior.

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 ...

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 ...

What Game are You Playing? Game theory is often introduced to future decision makers at a young age through tic-tac-toe then continues with chess strategy and sunsets with a few examples in business ...

Game theory and economics show how to steer evolution in a better direction Date: November 16, 2021 Source: PLOS Summary: Human behavior drives the evolution of biological organisms in ways that ...

Saul I. Gass, professor emeritus at the University of Maryland's Robert H. Smith School of Business, explains. Game: A competitive activity involving skill, chance, or endurance on the part of two or ...

Economist Michael Chwe has written a book called “Jane Austen: Game Theorist.” Do you need more of a reason to read this post? Video from Michael Chwe’s YouTube channel. I’m a specialist in game ...

The paper gives a brief survey of the origins of game theory. The author argues that the game theory of von Neumann and Morgenstern should be seen as an attempt to formulate more realistic behavioral ...