In 1950, John Nash — the mathematician later featured in the book and film “A Beautiful Mind” — wrote a two-page paper that transformed the theory of economics. His crucial, yet utterly simple, idea ...

Rock-Paper-Scissors works great for deciding who has to take out the garbage. But have you ever noticed what happens when, instead of playing best of three, you just let the game continue round after ...

In this note we provide a direct and simple proof of the existence of pure strategy Nash equilibria in large finite action games when the payoffs depend on own action and the average response of ...

Nash equilibrium helps predict other investors' moves; no net gain by altering your long-term strategy. A dominant strategy excels regardless of others' actions, aiding investment decisions. Using ...

This paper shows that the analysis of Liu et al. (2004) contains a substantive error--the asserted pure-strategy Nash equilibrium leading to their Theorems 1 and 2 is really not an equilibrium. We ...