Classical economic analysis generally assumes that we each take the world as we find it. We can “maximize” our own “utility” (as economists romantically describe the pursuit of happiness) in any ...

Game theory and economics show how to steer evolution in a better direction Date: November 16, 2021 Source: PLOS Summary: Human behavior drives the evolution of biological organisms in ways that ...

The prisoner's dilemma describes a situation in which two parties act on an incentive to protect themselves at the expense of ...

In Ms Clancy’s telling, the overzealous misapplication of game theory lies behind many of the world’s problems, including economic exploitation, manipulation of public opinion, racism and ...

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 ...