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

Discover how the Centipede Game illustrates conflict between self-interest and mutual benefit, as well as why real-world ...

The original version of this story appeared in Quanta Magazine. Imagine a town with two widget merchants. Customers prefer cheaper widgets, so the merchants must compete to set the lowest price.

The growing ubiquity of artificial intelligence (AI) in applications is rapidly changing everyday life, underscoring the need to understand its social intelligence. A new AI study examines the social ...

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 ...

Imagine a town with two widget merchants. Customers prefer cheaper widgets, so the merchants must compete to set the lowest price. Unhappy with their meager profits, they meet one night in a ...