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Game theory is the study of mathematical models of strategic interactions. [1] It has applications in many fields of social science, and is used extensively in economics, logic, systems science and computer science. [2]

Mar 28, 2025 · Game theory, branch of applied mathematics that provides tools for analyzing situations in which parties, called players, make decisions that are interdependent. This interdependence causes each player to consider the other player’s possible decisions, or strategies, in formulating strategy.

Jan 25, 1997 · Game theory is the study of the ways in which interacting choices of economic agents produce outcomes with respect to the preferences (or utilities) of those agents, where the outcomes in question might have been intended by none of the agents. The meaning of this statement will not be clear to the non-expert until each of the italicized words ...

Jun 27, 2024 · Game theory is the study of how players strategize and make decisions. It's a way to model scenarios in which conflicts of interest exist among the players.

Game theory is the mathematical analysis of decision making. In game theory, the interaction between two or more players is often framed in terms of a game with a particular set of rules.

Jun 2, 2003 · This simple game illustrates the essential aspects of what is now called game theory. In it, a game is the set of rules that describe it.

Game Theory. Menu. Syllabus Readings Lecture Notes Course Description This course investigates equilibrium and non-equilibrium solution concepts and their foundations as the result of learning or evolution. Among the topics covered are the equilibria of supermodular games, global games, repeated games, signaling games, and models of bargaining ...

Humans tend to make decisions based on emotions, rather than using cold, hard math—but when we learn to use strategy in decision-making, we can make more rational choices, minimize biases, and achieve better long-term outcomes. In this course, we will study game theory through experiments, competitions, mathematical analysis, and discussions, and then use what we’ve learned to model ...

Apr 30, 2025 · The short answer is game theory. Aside from its role in poker and other casino games, game theory is highly useful. While there are several ways to analyze political decisions, some economists lean on this branch of the field to consider strategies, beliefs, and the expected “utility” with each possible outcome between different “agents.”

game theory, Branch of applied mathematics devised to analyze certain situations in which there is an interplay between parties that may have similar, opposed, or mixed interests. Game theory was originally developed by John von Neumann and Oscar Morgenstern in their book The Theory of Games and Economic Behavior (1944).