In 1950, mathematicians Melvin Dresher and Merrill Flood conducted an experiment at the Rand Corporation to test “The Nash Equilibrium”. Considered to be “the most famous and troubling game in game theory”,…
Author: Brian Colwell
Alternative Investment Explorer
What Is The Nash Equilibrium?
John Nash developed a criterion for the mutual consistency of players’ strategies which proved mathematically that every finite game has an equilibrium known as a “Nash Equilibrium”, provided that one “generalizes the concept of…
43 Resources For Your Game Theory DYOR
Please enjoy this list of game theory resources! Thanks for reading!
What Is The History Of Game Theory?
Game Theory wasn’t spawned in a vacuum of ideas. While not formalized as a science until the 1940s, the idea of the theory of games has been implied in a variety of…
Distinguishing Between Non-Cooperative And Cooperative Game Theory
One can divide the study of game theory into two parts – the study of non-cooperative games, and the study of cooperative games. Strategic games model situations in which individual agents selfishly…
What Is A Game In Game Theory?
The object of study in Game Theory is the “game”, which is a formal description of a strategic situation. In a game, each decision-maker (player) chooses its strategy to maximize its utility,…
What Is Game Theory?
According to Mario Flores: “Problems in biological, social or economic environments deal with several agents making decisions that affect one another… Game theory developed as a formal analysis of these situations… it provided…
The Cypherpunk Vision: How Bitcoin Fulfilled A 30-Year Dream
In March 1993, Eric Hughes published “A Cypherpunk’s Manifesto,” a revolutionary document that would lay the philosophical groundwork for Bitcoin fifteen years before Satoshi Nakamoto mined the genesis block. This manifesto wasn’t…
How Memes Shaped Bitcoin Adoption
Humans are storytelling creatures. We understand complex ideas through narratives, remember facts through stories, and build communities around shared myths. Bitcoin, despite being rooted in mathematics and cryptography, has succeeded largely because…
A Brief Introduction To Bitcoin’s Security Model
In an era where major corporations, governments, and financial institutions regularly fall victim to cyberattacks, Bitcoin stands as a remarkable exception. Since its genesis block on January 3, 2009, the Bitcoin protocol…