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They Finally Tested The 'Prisoner's Dilemma' On Actual Prisoners — And The...
The "prisoner's dilemma" is a familiar concept to just about everyone who took Econ 101.The basic version goes like this: Two criminals are arrested, but police can't convict either on the primary...
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We can think of 3 major problems with buying 292,201,338 lottery tickets with...
At the time of this writing, the headline Powerball jackpot is up to $1.5 billion. The cash grand prize is estimated at $930 million.In a Powerball draw, five white balls are drawn from a drum with 69...
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An Ivy League professor explains chaos theory, the prisoner's dilemma, and...
Math is a cool way for us to understand the world we live in. And to that end Business Insider recently spoke with Steven Strogatz, the Jacob Gould Schurman Professor of Applied Mathematics at Cornell...
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Game theory perfectly explains why OPEC members are going to cheat
OPEC members have a deal to cap production levels until December.Oil prices are rising. When prices are higher, there is less incentive to cooperate with production caps. With oil prices rising,...
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How to beat anyone at rock-paper-scissors, according to a Chinese mathematician
The question of how to win at rock-paper-scissors has, believe it or not, plagued mathematicians and game theorists for some time.While they previously had devised a theoretical answer to the question,...
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We can think of 3 major problems with buying 292,201,338 lottery tickets with...
At the time of this writing, the headline Powerball jackpot is up to $1.5 billion. The cash grand prize is estimated at $930 million.In a Powerball draw, five white balls are drawn from a drum with 69...
View ArticleWe tested an economic theory by trying to buy people's Powerball tickets for...
Most people aren't shocked when they don't win the lottery. The odds are heavily stacked against them and there is little they could have done differently to change the outcome. They might feel...
View ArticleWe tested an economic theory by trying to buy people's lottery tickets for...
Most people aren't shocked when they don't win the lottery. The odds are heavily stacked against them, and there is little they could have done differently to change the outcome. They might feel...
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An Ivy League professor explains how a 1980s game theory experiment suggests...
Using math and game theory to explain decision making is nothing new.But what's really stunning is that game theory can give some insight into how morality may have "evolved."Business Insider recently...
View ArticleWe tested an economic theory by trying to buy people's lottery tickets for...
Most people aren't shocked when they don't win the lottery. The odds are heavily stacked against them, and there is little they could have done differently to change the outcome. They might feel...
View ArticleClik here to view.
What Game Theory tells us about Trump's 'madman' approach to North Korea
In the past 72 hours, President Trump has threatened North Korea with a nuclear attack, suggested that threat may not have been “tough enough” and then, on Friday morning, boasted that the U.S....
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An Ivy League professor explains chaos theory, the prisoner's dilemma, and...
Math is a cool way for us to understand the world we live in. And to that end Business Insider recently spoke with Steven Strogatz, the Jacob Gould Schurman Professor of Applied Mathematics at Cornell...
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A 'Jeopardy!' contestant has taken home more than $1.3 million in an 18-day...
James Holzhauer, the current reigning "Jeopardy!" champion, is on an 18-day winning streak.The Las Vegas resident and professional sports gambler has taken home more than $1.3 million so far....
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Meet the professional gambler from Illinois who's shattering 'Jeopardy!'...
James Holzhauer, the current reigning "Jeopardy!" champion, is on a 21-day streak, the second-longest in the show's history, with $1.6 million in winnings.Holzhauer has broken nearly every "Jeopardy!"...
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He smashed 'Jeopardy!' records on the way to winning $2.5 million. Now...
"Jeopardy James" Holzhauer won $2.5 million on an iconic game show where contestants usually play it safe. He told Business Insider why he made huge wagers at every opportunity.Holzhauer, a...
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Mohamed El-Erian compared coronavirus stimulus packages to a poker game, and...
Global economic stimulus packages have rapidly been used in the fight against the coronavirus pandemic, but an "all in" approach is not sustainable, famed economist Mohamed El-Erian told IFC Insights...
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If you're sick of people breaching your 6-foot social distancing bubble,...
As lockdown restrictions ease around the country, some people are growing less concerned about keeping the CDC recommended six feet of distance between themselves and others. Alvaro Sandroni, professor...
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