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.

Breakthroughs, discoveries, and DIY tips sent every weekday. Terms of Service and Privacy Policy. Three slices of fresh apple pie sit on the kitchen counter, and you ...

What Game are You Playing? Game theory is often introduced to future decision makers at a young age through tic-tac-toe then continues with chess strategy and sunsets with a few examples in business ...

The oddities of social life—and our efforts to cooperate and coordinate—may turn on our assumptions about the knowledge we share.

Thomas Schelling and Robert Aumann have won the 2005 Nobel Prize in Economics. Alex Chadwick talks to Tess Vigeland of Marketplace about the two men, who were recognized for their contributions to ...

Two U.S. game theory specialists were awarded the Nobel prize in economic sciences for their groundbreaking research. Paul R Milgrom and Robert B Wilson won the award for their designs of mathematical ...

Donald Trump imposed high tariffs before negotiations to set terms and pressure partners Tariffs included 25% on India, 35% on Canada, 30% on Mexico and the EU, plus proposed blanket tariffs Trump ...