Recently, Assistant Professor Liu Zhengwen and Professor Zhang Bo of the School of Economics, together with Professor Justin Yifu Lin from the Institute of New Structural Economics and National School ...

When survival over generations is the end game, researchers say it makes sense to undervalue long shots that could be profitable and overestimate the likelihood of rare bad outcomes. Making decisions ...

Ironically, an acatallactic pseudo-theory of money that emerged from a school of thought that rejected theory in favor of an ...

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 ...

Responding to Mark Buchanan’s criticism of economic theory (19 July, p 32), Christopher May asserts that markets are social phenomena that rather than evolving are “facilitated by governments, often ...

Decision theory is a cornerstone of economic analysis, providing a framework for understanding how individuals and institutions make choices under conditions of uncertainty and risk. At its core, the ...