game theory
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Drunk Drivers: Beware the Economists
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Every year, traffic accidents cause 50 million injuries and 1.35 million deaths globally. A staggering 90% of these deaths happen in developing countries. Though it is difficult to isolate accidents caused by drunk driving, they are estimated to represent 30% of all accidents. In countries like India with high frequencies…
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How Should We Understand Alliance Formation in a Multilateral World?
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For several decades, bilateral modeling has been the central tool in much of the theoretical and empirical research on alliance formation. Theoretical investigations into alliance formation were traditionally rooted in dyadic game-theoretical frameworks that feature two primary parties. For example, these models might examine the trade-off of an alliance relationship…
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Live Fast, Die Young, Defend Your Status: The Code of Retaliation
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A harsh childhood can lead to a life strategy that condones violence in response to status threats. An economic game shows that such a worldview is linked to heightened envy in unfair situations.