As brilliantly visualized in the Disney-Pixar animated movie "Inside Out" (2015), emotions guide most of our actions, if not all. However, for a long time, economists did not pay much attention to ...

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 ...

But what does game theory look like in practice? What kinds of ‘games’ fall under this concept, and how do they enhance our understanding of strategic behavior in real-life situations? In this article ...

The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their ...

Game theory studies the decision-making and possible outcomes in games. For decades, it has been widely used in social and economic behavior analysis (but not only these areas). In our company, we’ve ...

Cooperative game theory is often seen as a numbers-driven discipline rooted in mathematics. Yet beyond the equations lies a powerful framework, particularly in macroeconomics, for understanding how ...

Playing with Reality: How Games Shape Our World. By Kelly Clancy. Riverhead Books; 368 pages; $30. Allen Lane; £25 In 1824 Prince Wilhelm of Prussia asked for a demonstration of an elaborate game he ...