In most sports, the losing team starts taking bigger and bigger risks as time runs out. In football, the Hail Mary play is a last-ditch … [Read more...] about Do Companies Throw Hail Marys?
game theory
The Best Offense is a Good Defense
The Case Against Bomb Shelters The nuclear standoff between the United States and the Soviet Union during the Cold War will surely go down as one of … [Read more...] about The Best Offense is a Good Defense
The Economics of Love
When I saw that my next blog post was going to post on Valentine's Day, I asked myself the question: "What can economics tell us about love?" I know, I … [Read more...] about The Economics of Love
Nash Equilibrium: Seeing the Forest Through the Trees
Around the 1940s and 1950s, a defining moment in the development of economic thought was underway, led by academics such as Paul Samuelson and John … [Read more...] about Nash Equilibrium: Seeing the Forest Through the Trees
How to Take Over the World using Game Theory
Long before Rome was that vast and magnificent empire which occupies a prominent place in the modern public imagination, it was once only one of many … [Read more...] about How to Take Over the World using Game Theory
What can game theory tell us about presidential elections?
Every four years, Americans get to witness a special kind of political spectacle: presidential elections. The US elections have two interesting features … [Read more...] about What can game theory tell us about presidential elections?