The prisoner's dilemma describes a situation in which two parties act on an incentive to protect themselves at the expense of the other. Find out how it works in economics.

Over the course of the 21st century, several mutual defense pacts that looked ironclad on paper have collapsed under fire. As ...

HAYWARD, Calif. -- There seems to be a strategy for almost everything-- for dieting, investing and even for winning games. The 14-day winning streak for 35-year-old James Holzhauer on "Jeopardy!" has ...

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 ...

The 12-day war between Israel and Iran may have paused—but the next round of violence is already taking shape. As of writing this piece, the 12-day war has been halted by a fragile ceasefire—one that ...

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 ...