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

The game theory of Bitcoin and cryptocurrencies analyzes the behavior and strategies of participants in the market using concepts such as the prisoner’s dilemma. Game theory is a mathematical ...

Vaccine hesitancy isn’t a moral failure – it’s a property of a system in which people must balance personal and collective ...

A recent solution to the prisoner’s dilemma, a classic game theory scenario, has created new puzzles in evolutionary biology. Press and Dyson’s new solution to the problem, however, threw that rosy ...

Game theory helps investors predict outcomes in markets where decisions impact each other. Understanding game theory equips investors to strategically anticipate market actions. Game theory-informed ...

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 ...

Discover how the Matching Pennies game illustrates strategic decision-making and Nash Equilibrium in game theory, with insights on payoff dynamics and asymmetric strategies.

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 ...

If natural selection is survival of the fittest, why isn't everything a competition? Cooperation and competition have a fitness face off in game theory. Evolutionary games are often visually ...

If we want better outcomes, we need to change the way we pay for medical care. The latest Mirror, Mirror 2024 report from the Commonwealth Fund—a nonprofit organization that conducts independent ...