The original version of this story appeared in Quanta Magazine. Imagine a town with two widget merchants. Customers prefer cheaper widgets, so the merchants must compete to set the lowest price.

This course is available on the MSc in Applicable Mathematics and MSc in Operations Research & Analytics. This course is available with permission as an outside option to students on other programmes ...

APPROACHING cancer treatment as a game has doubled the survival time of men with advanced prostate cancer. This achievement could mark the start of using game theory to target a range of cancers more ...

Imagine a town with two widget merchants. Customers prefer cheaper widgets, so the merchants must compete to set the lowest price. Unhappy with their meager profits, they meet one night in a ...