Explore how backward induction helps solve game theory problems by working from the end backward to determine optimal actions ...

Discover how the Centipede Game illustrates conflict between self-interest and mutual benefit, as well as why real-world ...

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 ...

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 ...

There’s plenty of advice out there for aspiring negotiators, but none of it holds much resonance for the underdog. Harvard scholars will tell you to “control your emotions” and not appear anxious to ...

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 ...

Playing with Reality: How Games Shape Our World. By Kelly Clancy. Riverhead Books; 368 pages; $30. Allen Lane; £25 In 1824 Prince Wilhelm of Prussia asked for a demonstration of an elaborate game he ...

The original version of this story appeared in Quanta Magazine. Imagine you had a friend who gave different answers to the same question, depending on how you asked it. “What’s the capital of Peru?” ...

Looking at my bookshelf, I’m stricken with guilt: the collected Sherlock Holmes stories by Arthur Conan Doyle have been sitting untouched for years. Unfortunately, I never got past the fantastic ...

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, ...