I'm a microeconomist by training and use the economic theory of games throughout most of my research program. Game theory is used as a tool for economic analysis whenever two or more players (people, ...

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 ...

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 ...

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 ...

In its negotiations on the two key infrastructure bills, Congress members are utilizing the classic economic concept of game theory to outmaneuver one another. We look at what this federal ...