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

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 ...

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

Human behavior drives the evolution of biological organisms in ways that can profoundly adversely impact human welfare. Understanding people's incentives when they do so is essential to identify ...

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 ...

The Center for Mathematical Studies in Economics and Management Science (CMS-EMS) was created in 1971 to bring together economists, mathematicians, and social scientists at Northwestern University who ...