Game theory research reveals fragility of common resources
Thursday, September 29, 2016 - 17:21
in Mathematics & Economics
New research in game theory shows that people are naturally predisposed to over-use “common-pool resources” such as transportation systems and fisheries even if it risks failure of the system, to the detriment of society as a whole. The ongoing research harnesses the Nash equilibrium, developed by Nobel laureate John Nash, whose life was chronicled in […]