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 ...

University of Maryland professor Thomas Schelling, one of the recent winners of the Nobel Prize for economics, discusses the field of game theory. In the late 1940s, Thomas Schelling worked as a ...

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 ...

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 ...

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 ...

An analysis of the assumptions generally made in game theory is carried out. The analysis is used as a basis for a review of the collection of articles, dealing with recent developments in ...

Roth, Alvin E. "The Economist As Engineer: Game Theory, Experimental Economics and Computation As Tools of Design Economics." Econometrica 70, no. 4 (July 2002): 1341–1378.

People like to help those who are helping them, and to hurt those who are hurting them. Outcomes reflecting such motivations are called fairness equilibria. Outcomes are mutual-max when each person ...

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 ...