For example, what distinguishes game theory, and economics generally, from other social science approaches is its emphasis on individual choice. That’s how economists explain behavior.

Macroeconomists often employ game theory as well, for example, to explain how the government and the private sector interact in monetary policy decisions. But what, exactly, is game theory?

Game theory was born to deal with interdependence: situations where what I do depends on what you do, and what you do depends on what I do. That, of course, would cover almost all situations. For ...

I'm a microeconomist by training and use the economic theory of games throughout most of my research program. Game theory is used as a tool for economic analysis whenever two or more players ...

The researchers take the mathematical model further by implementing game theory, which analyzes how individuals’ decisions are interconnected and can impact each other – such as physicians in ...

Game theory and economics show how to steer evolution in a better direction Date: November 16, 2021 Source: PLOS Summary: Human behavior drives the evolution of biological organisms in ways that ...

The paper gives a brief survey of the origins of game theory. The author argues that the game theory of von Neumann and Morgenstern should be seen as an attempt to formulate more realistic behavioral ...

Game theory explains how Amazon and other economic disruptors are winning at winner-take-all competition.

This 'fix' for economic theory changes everything from gambles to Ponzi schemes Date: December 2, 2019 Source: Santa Fe Institute Summary: Whether we decide to take out that insurance policy, buy ...

For example, what distinguishes game theory, and economics generally, from other social science approaches is its emphasis on individual choice. That’s how economists explain behavior.