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 ...

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.

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 ...

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 ...

Physicist Albert Einstein famously posited that if he only had an hour to crack a daunting problem, he'd devote 55 minutes to ...

In a recent artificial intelligence (AI) machine learning breakthrough in game theory, researchers solve a persistent problem with real-world applicability—for the better. At last month’s 34th ...