For example, what distinguishes game theory, and economics generally, from other social science approaches is its emphasis on individual choice. That’s how economists explain behavior.

For example, what distinguishes game theory, and economics generally, from other social science approaches is its emphasis on individual choice. That’s how economists explain behavior.

The paper gives a brief survey of the origins of game theory. The author argues that the game theory of von Neumann and Morgenstern should be seen as an attempt to formulate more realistic behavioral ...

Game theory is the study of how players strategize and make decisions. It's a way to model scenarios in which conflicts of interest exist among the players.

Thomas C. Schelling and Robert Aumann are co-winners of the 2005 Nobel Prize in Economics. The two worked independently to apply game theory to social and political problems. Robert Siegel speaks ...

Game theory was born to deal with interdependence: situations where what I do depends on what you do, and what you do depends on what I do. That, of course, would cover almost all situations. For ...

Welcome to our series on economic theories that are changing the way we think. Today, Partha Gangopadhyay explains game theory.

THIS book is based on the theory that the economic man attempts to maximize his share of the world's goods and services in the same way that a participant in a game involving many players attempts ...

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 ...

But game-theory software can also work well outside the sphere of economics. In 2007 America's military provided Mr Bueno de Mesquita with classified information to enable him to model the ...