The prisoner's dilemma describes a situation in which two parties act on an incentive to protect themselves at the expense of the other. Find out how it works in economics.

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 ...

What Game are You Playing? Game theory is often introduced to future decision makers at a young age through tic-tac-toe then continues with chess strategy and sunsets with a few examples in business ...

Breakthroughs, discoveries, and DIY tips sent every weekday. Terms of Service and Privacy Policy. Three slices of fresh apple pie sit on the kitchen counter, and you ...

Two U.S. game theory specialists were awarded the Nobel prize in economic sciences for their groundbreaking research. Paul R Milgrom and Robert B Wilson won the award for their designs of mathematical ...

The United Auto Workers strike against Detroit’s Big Three—Ford, General Motors, and Stellantis—escalated into its third week on Friday. Workers at two additional plants operated by Ford and GM walked ...

Humans are quickly running out of board games we can still play without being utterly clobbered by AI. In the past, researchers demonstrated AI’s ability to best humans at chess, Go, and, recently, ...

The oddities of social life—and our efforts to cooperate and coordinate—may turn on our assumptions about the knowledge we share.

Countries where democracy is in trouble share a common pattern, and it’s a worrying one for the United States. Credit...Photo illustration by Ricardo Tomás Supported by By Amanda Taub Amanda Taub ...