Discover how mechanism design theory uses incentives and game theory to achieve desired outcomes in economics and businesses while overcoming self-interest challenges.

Explore how backward induction helps solve game theory problems by working from the end backward to determine optimal actions ...

Colin Camerer is the Robert Kirby Professor of Behavioral Economics at the California Institute of Technology. He earned a Ph.D. from the University of Chicago in 1981 and worked at the Kellogg School ...

Behavioral Economics is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...

It is a bit difficult to say what criteria should be used to judge the success or failure of a research initiative on the scale of merging psychology and economics. Two reasonable criteria, at least ...

Ever wonder how nodes are incentivized in a blockchain to ensure trust, consensus and cooperation in a system with no central authority? The answer lies in game theory, the mathematical study of ...

So you’re standing at the edge of a cliff, chained by the ankle to someone else. You’ll be released, and one of you will get a large prize, as soon as the other gives in. How do you persuade the other ...