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 ...

Discover how mechanism design theory uses incentives and game theory to achieve desired outcomes in economics and businesses while overcoming self-interest challenges.

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 ...

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

An American and an American Israeli were awarded the Nobel Memorial Prize in Economic Sciences on Monday for fostering the understanding of conflict and cooperation -- in matters such as nuclear arms ...

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 ...

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, ...