Economists use game theory to model conflict and cooperation by at least two rational decision-makers where there is strategic behavior by the players who understand that their actions affect the ...

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 ...

Mechanism design and implementation in game theory constitutes a pivotal branch of economic theory and theoretical computer science. This domain examines how rules and processes (mechanisms) may be ...

Microeconomic theory forms the cornerstone of modern economics by examining how individuals and firms make decisions under constraints and how these decisions shape market outcomes. It provides a ...

The increasing inequality in income and wealth in recent years, together with excessive pay packages of CEOs in the U.S. and abroad, is of growing concern. Researchers have now examines income ...

TOPSHOT - President Trump's plan to create a "national bitcoin stockpile" has fueled speculation that other countries will follow suit. Game theory helps explain the logic behind Bitcoin's recent ...

“Politics is not a game,” Winston Churchill once said. “It is an earnest business.” And yet like any business, politics is rife with strategic challenges and opportunities that game theory can help ...

The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their ...

New York, NY--May 28, 2015--The increasing inequality in income and wealth in recent years, together with excessive pay packages of CEOs in the U.S. and abroad, is of growing concern, especially to ...