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How The US Coast Guard Uses Game Theory To Protect New York City [PHOTOS]
From a small room in a Pakistan house, the U.S. Coast Guard (USCG) was shaken to its core in 2011.Within the data seized from Osama bin Laden's Abbottabad compound was the al Qaeda plan to blow up oil...
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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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Generosity Pays Off In The Long Run
In "Pay It Forward," a young boy decides to return kindness shown to him with three new good deeds to complete strangers. By the end of the film, his altruism comes back to him.It's a heartwarming...
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How Game Theory Can Help Make Sense Of The Government Shutdown
As the U.S. government shutdown and debt limit debates plod on, and perhaps approach an endgame, a weary public may be forgiven for its despair about rabid partisanship in Washington and the inability...
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How To Win Every Game On 'The Price Is Right' Without Knowing A Single Price
In a crisp November day eight years ago, I took the only sick day of my four years of high school. I was laid up with an awful fever, and annoyed that I was missing geometry class, which at the time...
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A Fundamental Game Theory Concept That Every Trader Should Understand
We do not sow. – House Greyjoy motto, “A Game of Thrones”It would be ideal if we could have an uncontrolled flow of information. – Poindexter, former Director of DARPA Information Awareness OfficeIt’s...
View ArticleGame Theory Is Key To Understanding The Latest Central Banker Headlines
In 1949, Yale anthropologist George Murdock spearheaded the establishment of an inter-university research organization to continue his life’s work: the cataloguing of what he called cultural...
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Jeopardy's Controversial New Champion Is Using Game Theory To Win Big
Meet Arthur Chu, Jeopardy's latest and greatest star, who has used Jeopardy game theory to become nightly must-see TV. But his unorthodox methods — though correct by the numbers — have made him a...
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A Chinese Mathematician Figured Out How To Beat Anyone At Rock-Paper-Scissors
The question of how to win at Rock-Paper-Scissors has, believe it or not, plagued mathematicians and game theorists for quite some time. While they previously had devised a theoretical answer to the...
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This Hungarian-American Mathematician May Have Been Smarter Than Einstein
Some would claim the smartest person of the 20th century worked down the hall from Albert Einstein at Princeton’s Institute for Advanced Study.John von Neumann, born in Budapest in 1903 and immigrated...
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According To Game Theory, Germany And The US Should Collude To Get A Draw In...
There's an argument based on game theory that both the United States and Germany should pretty much just stand around the ball during their match on Thursday.How World Cup Points WorkIn the World Cup...
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Scientists Used Game Theory To Prove That Being Selfish Pays Off
As cynical as it sounds, the selfish find success in life.So concludes a new study published Monday in the Proceedings of the National Academy of Sciences. Building on other studies of the "prisoner's...
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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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What Greek finance minister Yanis Varoufakis used to believe about 'game...
Greece's finance minister, Yanis Varoufakis, is developing a bit of a cult following. Somewhere between his academic background, his history as a video game economist, and his trademark leather...
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'A Beautiful Mind' mathematician John Nash killed in car crash
Famed mathematician John Nash and his wife, Alicia Nash, were killed Saturday in a taxi crash on the New Jersey Turnpike, NJ.com reports.Nash, a Princeton University mathematics professor, won the...
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The genius 'A Beautiful Mind' mathematician who just died made all of his...
When mathematician John Nash received a Nobel Prize for economics in 1994, there was a certain tragedy to the award. He hadn't published a scientific paper or held an academic post in nearly 40 years,...
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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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