The concept of Nash equilibrium has long served as a cornerstone in game theory, characterising a state where no player can benefit by changing their strategy unilaterally. Recent advancements have ...

Explore how backward induction helps solve game theory problems by working from the end backward to determine optimal actions ...

Game theory is now part of almost every economist's tool-kit, as this week's Nobel economics prize recognises IT SOUNDS like a sports fan's dream. In Stockholm on October 11th, three men shared a $1m ...

I first learned my craft on Wall Street in the 1980s, a very different era, characterized by the bravado of Gordon Gekko’s “Greed is Good” speech. During that period, I was taught that all ...

John Nash was a brilliant, iconoclastic mathematician who in 1949 devised what is now called the “Nash equilibrium”—a mathematical formula for game theory that eventually revolutionized the world of ...

Morra is a competitive hand-and-finger game played between two opponents. It begins like Rock-Paper-Scissors, with both players concealing their hands. At a prearranged signal, both players ...