game theory Archives

What an Economist Might Say to a Goalkeeper

Having entered the knockouts, World Cup rules mandate a penalty shootout that economists can explain with game theory.

When Rock, Paper, Scissors Was Worth $20 Million

Playing rock, paper, scissors, Christie’s and Sotheby’s helped a Japanese corporation decide who would auction its $20 million art collection.

Weekly Economic News Roundup and explaining the deficit

Economic Thinkers

A Congressional Debt Ceiling Game (Theory)

Looking at the game theory behind congressional debt ceiling negotiations, we see a classic example of the prisoner’s dilemma.

Weekly Economic News Roundup and Prisoners' Dilemma

What's Trending

Why the U.S. China Trade War Is like An OPEC Meeting

The one similarity shared by the U.S. China Trade War, OPEC negotiations, and two burglars separated in jail is the Prisoners’ Dilemma.

Weekly Economic News Roundup and women's World Cup soccer

What's Trending

What Economists Say About a Penalty Kick

Confirming that economics relates to almost everything, game theory can explain yesterday’s women’s World Cup semifinal penalty kick save by the U.S. team.

What's Trending

Why Mapping Apps Create the Prisoner’s Dilemma

The success of a decision to use Waze, Google Maps, and other mapping apps to avoid traffic can depend on outsmarting the prisoner’s dilemma.

Economic Thinkers

How an Art Heist Is like the Government Shutdown

Whether looking at an art heist, government shutdown negotiations or a soccer shootout, game theory can explain people’s behavior.

Economic Thinkers

How Game Theory Explains World Cup Penalty Shootouts

We can use economic game theory to understand the decisions made by kickers and goalies during World Cup penalty shootouts.

Demand, Supply, and Markets

Why UPS and FedEx Have the Prisoners’ Dilemma

Planning their surcharge policy for the holiday shipping surge, UPS and FedEx each was influenced by the Prisoners’ Dilemma.

Weekly Roundup

Weekly Roundup: From Greek Games to Tennis Matches

Our everyday economics includes externalities, branding, monopolistic competition, sovereign debt, game theory, elasticity, taxes, markets and the glass ceiling.