Imagine a town with two widget merchants. Customers prefer cheaper widgets, so the merchants must compete to set the lowest price. Unhappy with their meager profits, they meet one night in a ...

Marketing tactics tend to stick to a tried-and-tested principle: If you’re marketing something consumers don’t need to survive, target their emotions, rather than their logic. The closer you can get ...

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 ...

Princeton's John Nash earned the Nobel prize in economics for his work in game theory, a method of strategic thinking. Nash was portrayed by Russell Crowe in the 2001 movie A Beautiful Mind.

Partha Gangopadhyay does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations ...

Ever wonder how nodes are incentivized in a blockchain to ensure trust, consensus and cooperation in a system with no central authority? The answer lies in game theory, the mathematical study of ...

Adapted from The Game Theorists’s Guide to Parenting: How the Science of Strategic Thinking Can Help You Deal with the Toughest Negotiators You Know—Your Kids, by Paul Raeburn and Kevin Zollman, by ...

Thanks to the sterling efforts of Sylvia Nasar, Ron Howard, and Russell Crowe, many people are aware that John Nash, the Princeton mathematician who was killed over the weekend in a car crash on the ...

Game theory, the study of strategic decision-making, has long been a tool for economists, mathematicians, and political scientists to analyse human behaviour in competitive scenarios. While ...

The original version of this story appeared in Quanta Magazine. Imagine a town with two widget merchants. Customers prefer cheaper widgets, so the merchants must compete to set the lowest price.

What is game theory? Simply put, if you are playing any game of strategy, like chess, any move you make in the game will have to be countered by your opponent. The strategic decisions that you and ...

Saul I. Gass, professor emeritus at the University of Maryland's Robert H. Smith School of Business, explains. Game: A competitive activity involving skill, chance, or endurance on the part of two or ...