Game theory and insights from cognitive psychology can shed light on the economic choices people and corporations make. With more than 2.5 million observations to analyze -- as well as a laboratory ...

In rock-paper-scissors, the ideal strategy is simple: You should play a random move each round, choosing all three ...

Game theory frames human behavior as cold, selfish, and predictable—but as this video explains, that’s because economists baked selfishness into the model from the start. Using the classic Prisoner’s ...

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 ...

Arthur Chu said he played within the rules when utilizing game theory economics. Feb. 3, 2014— -- A contestant on Jeopardy! has been called a villain and blamed for "ruining" the game by using ...

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 ...

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 ...

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 ...

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 ...

STONY BROOK, New York -- Cue Leonard Nimoy crooning Highly Illogical over a novelty-song orchestra. Game theory, the study of rational behavior broken down into strategic decisions, is all about ...

Editor’s Note: Let’s play the ultimatum game. Here’s how it works: I give your friend $20. He has to share a portion of his $20 with you and can give you as much as he wants. If you accept the offer, ...