To understand how driverless vehicles can navigate the complexities of the road, researchers often use game theory — mathematical models representing the way rational agents behave strategically to ...

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 ...

Game theory has long served as a cornerstone in understanding competitive strategies in markets where few firms operate. In particular, duopoly and oligopoly frameworks illustrate how firms’ strategic ...

Game theory is a mathematical framework that helps explain decision-making in strategic situations. Cryptocurrencies, like Bitcoin (BTC), have become a popular subject for game theorists due to their ...

The original version of this story appeared in Quanta Magazine. Imagine you had a friend who gave different answers to the same question, depending on how you asked it. “What’s the capital of Peru?” ...

As we approach the fantasy playoffs, it’s a good time to revisit the ideas of Optimality and Game Theory. In Optimality, you’re always striving for the best possible outcome at the least possible cost ...