Nash equilibrium lies at the heart of game theory, representing a condition in which every participant chooses a strategy that optimises their individual outcome given the strategies of the others.

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

The concept of Nash equilibrium has long served as a cornerstone in game theory, characterising a state where no player can benefit by changing their strategy unilaterally. Recent advancements have ...

Mathematics of Operations Research, Vol. 43, No. 1 (February 2018), pp. 100-129 (30 pages) We furnish conditions on the primitives of a Bayesian game that guarantee the existence of a Bayes-Nash ...

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 ...