Explore how backward induction helps solve game theory problems by working from the end backward to determine optimal actions ...
Christina Majaski writes and edits finance, credit cards, and travel content. She has 14+ years of experience with print and digital publications. Robert Kelly is managing director of XTS Energy LLC, ...
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 ...
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