I'm a microeconomist by training and use the economic theory of games throughout most of my research program. Game theory is used as a tool for economic analysis whenever two or more players (people, ...

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 ...

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 ...

This is part of our “Econ Extra Credit” project, where we read an introductory economics textbook provided by the nonprofit Core Econ together with our listeners. Robots are doing their part during ...

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 ...

An American and an American Israeli were awarded the Nobel Memorial Prize in Economic Sciences on Monday for fostering the understanding of conflict and cooperation -- in matters such as nuclear arms ...

Twenty years on, the 2005 economics Nobel-winning duo Schelling and Aumann’s work offers several lessons to understand ...

People like to help those who are helping them, and to hurt those who are hurting them. Outcomes reflecting such motivations are called fairness equilibria. Outcomes are mutual-max when each person ...