Game theory has a fascinating connection with poker. Image sourced from www.shutterstock.com Welcome to our series on economic theories that are changing the way we think. Today, Partha Gangopadhyay ...

As brilliantly visualized in the Disney-Pixar animated movie "Inside Out" (2015), emotions guide most of our actions, if not all. However, for a long time, economists did not pay much attention to ...

Everyone on earth takes a private vote by pressing a red or blue button. If more than 50% of people press the blue button, everyone survives. If less than 50% of people press the blue button, only ...

To understand how driverless vehicles can navigate the complexities of the road, researchers often use game theory — mathematical models representing the way rational agents behave strategically to ...

Coming upon the term "game theory" this week, your first thought would likely be about the Winter Olympics in Sochi. But here we're going to discuss how game theory applies in economics, where it's ...

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Game theory is a branch of applied mathematics and economics that studies situations where players choose different actions in an attempt to maximize their returns. First developed as a tool for ...