Philosophy of economics
Philosophy and economics (also philosophy of economics) may refer to the branch of philosophy that studies issues relating to economics or, alternatively, to the branch of economics that studies its o...
Game theory
How game theory developed by John Nash (Nobel prize for economics, 1994) was used first to run the economy, and then to justify conservative politics. Consid...
Economic methodology
Economic methodology is the study of methods, especially the scientific method, in relation to economics, including principles underlying economic reasoning. In contemporary English, 'methodology'...
Game theory
Game theory is the study of strategic decision making. Specifically, it is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers." An alternative t...
Decision theory
Decision theory or theory of choice in economics, psychology, philosophy, mathematics, computer science, and statistics is concerned with identifying the values, uncertainties and other issues relevan...
Distributive justice
Distributive justice concerns the nature of a socially just allocation of goods in a society. A society in which incidental inequalities in outcome do not arise would be considered a society guided by...
Justice (economics)
Justice in economics is a subcategory of welfare economics with models frequently representing the ethical-social requirements of a given theory, whether "in the large," as of a just social order, or ...
Heterodox economics
Heterodox economics refers to methodologies or schools of economic thought that are considered outside of "mainstream economics", often represented by expositors as contrasting with or going beyond ne...
Divide and choose
Divide and choose (also Cut and choose or I cut, you choose) is a procedure for envy-free cake-cutting between two partners. It involves a heterogeneous good or resource ("the cake") and two partners ...
Grand coalition
A grand coalition is an arrangement in a multi-party parliamentary system in which the two largest political parties of opposing political ideologies unite in a coalition government. The term is most ...
Vickrey-Clarke-Groves auction
In auction theory, a Vickrey–Clarke–Groves (VCG) auction is a type of sealed-bid auction of multiple items. Bidders submit bids that report their valuations for the items, without knowing the bids of ...
Strategic move
A strategic move in game theory is an action taken by a player outside the defined actions of the game in order to gain a strategic advantage and increase one's payoff. Strategic moves can either be u...
Gradient boosting
Gradient boosting is a machine learning technique for regression problems, which produces a prediction model in the form of an ensemble of weak prediction models, typically decision trees. It builds t...
Partnership game
In game theory, a partnership game is a symmetric game where both players receive identical payoffs for any strategy set. That is, the payoff for playing strategy a against strategy b receives the sa...
Tragedy of the anticommons
The tragedy of the anticommons is a type of coordination breakdown, in which a single resource has numerous rightsholders who prevent others from using it, frustrating what would be a socially desirab...
Strategic dominance
In game theory, strategic dominance (commonly called simply dominance) occurs when one strategy is better than another strategy for one player, no matter how that player's opponents may play. Many si...
Coalition-Proof Nash Equilibrium
The concept of coalition-proof Nash equilibrium applies to certain "noncooperative" environments in which players can freely discuss their strategies but cannot make binding commitments.It emphasizes...
Maker-Breaker game
In combinatorial game theory, Maker-Breaker games are a subclass of positional games. It is a two-person game with complete information played on a hypergraph (V,H) where V is an arbitrary set (called...
Win-win game
A win-win game is a game which is designed in a way that all participants can profit from it in one way or the other. In conflict resolution, a win-win strategy is a conflict resolution process that a...
Continuous game
A continuous game is a mathematical generalization, used in game theory. It extends the notion of a discrete game, where the players choose from a finite set of pure strategies. The continuous game co...
Clinical decision support system
A clinical decision support system (CDSS) is a health information technology system that is designed to assist physicians and other health professionals with clinical decision-making tasks. A working ...
Solution concept
In game theory, a solution concept is a formal rule for predicting how a game will be played. These predictions are called "solutions", and describe which strategies will be adopted by players and, th...
Expected value of perfect information
In decision theory, the expected value of perfect information (EVPI) is the price that one would be willing to pay in order to gain access to perfect information.
The problem is modeled with a pay...
Consensus decision-making
Consensus decision-making is a group decision-making process that seeks the consent of all participants. Consensus may be defined professionally as an acceptable resolution, one that can be supported,...
Health management system
The health management system (HMS) is an evolutionary medicine regulative process proposed by Nicholas Humphrey in which actuarial assessment of fitness and economic-type cost-benefit analysis deter...
Decoy effect
In marketing, the decoy effect (or asymmetric dominance effect) is the phenomenon whereby consumers will tend to have a specific change in preference between two options when also presented with a thi...
Myerson-Satterthwaite theorem
The Myerson–Satterthwaite theorem is an important result in mechanism design and the economics of asymmetric information, due to Roger Myerson and Mark Satterthwaite. Informally, the result says that...
Lewis signaling game
In game theory, the Lewis signaling game is a type of signaling game that features perfect common interest between players. It is named for the philosopher David Lewis who was the first to discuss th...
Game semantics
Game semantics (German: dialogische Logik, translated as dialogical logic) is an approach to formal semantics that grounds the concepts of truth or validity on game-theoretic concepts, such as the...
Sucker bet
A sucker bet is a gambling wager in which the expected return is significantly lower than the wager(s).Variants include:For example, the chances of correctly guessing the order of the final 3 cards of...
Monty Hall problem
The Monty Hall problem is a brain teaser, in the form of a probability puzzle (Gruber, Krauss and others), loosely based on the American television game show Let's Make a Deal and named after its orig...