This week “The Economist explains” is given over to economics. For each of six days until Saturday this blog will publish a short explainer on a seminal idea. ECONOMISTS can usually explain the past ...

The concept of Nash equilibrium has long served as a cornerstone in game theory, characterising a state where no player can benefit by changing their strategy unilaterally. Recent advancements have ...

Christina Majaski writes and edits finance, credit cards, and travel content. She has 14+ years of experience with print and digital publications. Robert Kelly is managing director of XTS Energy LLC, ...

In 1950, John Nash — the mathematician later featured in the book and film “A Beautiful Mind” — wrote a two-page paper that transformed the theory of economics. His crucial, yet utterly simple, idea ...