The deceptive simplicity of the Prisoner's Dilemma game may tempt researchers to make unwarranted analogies between it and more complex human interactions. The classic Dilemma is examined jointly from ...

The von Neumann-Morgenstern theory of games does not yield determinate solutions (corresponding to unique payoff vectors) for two-person variable-sum games and for n-person games. The present paper ...

University of Maryland professor Thomas Schelling, one of the recent winners of the Nobel Prize for economics, discusses the field of game theory. In the late 1940s, Thomas Schelling worked as a ...

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 ...

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?” would get one answer, and “Is Lima the capital of Peru?” would ...

Coming upon the term "game theory" this week, your first thought would likely be about the Winter Olympics in Sochi. But here we're going to discuss how game theory applies in economics, where it's ...