Game Theory and Payment Security standard

For those of you who do not know, the Federal Reserve branches (the head ones for each district) all conduct and publish research and facts on their respective webpages. The Kansas City Fed is one of my favorite places to go to look for current (and historical) research that is relevant to our industry. Last month they released a summary from the 2015 International Payments Policy Conference which included a session on applying Game Theory to payment security. I’m fascinated by game theory. It’s an area of applied mathematics where even someone like me (who is NOT a math whiz) can grasp. The primary models they applied appear to focus on the EMV liability shift to examine payoffs and equilibria before and ...
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