Difference between revisions of "Game theory"

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Revision as of 04:41, 18 February 2016

Game theory is the study of strategic decision making.

Description

Specifically, game theory is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers."

An alternative term suggested "as a more descriptive name for the discipline" is interactive decision theory.

Game theory is mainly used in:

  • Economics
  • Political science
  • Psychology

A well as:

The subject first addressed zero-sum games, such that one person's gains exactly equal net losses of the other participant or participants.

Today, however, game theory applies to a wide range of behavioral relations, and has developed into an umbrella term for the logical side of decision science, including both humans and non-humans (e.g. computers, animals).

See also

External Links