game theory - meaning and definition. What is game theory
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What (who) is game theory - definition

BRANCH OF MATHEMATICS FOCUSED ON STRATEGIC DECISION MAKING
Game Theory; Theory of Games; Game-theoretic; Theory of games; Two-person zero-sum game; Games theory; Game theorist; Economic game; Gaming theory; Political game theory; Political Game theory; Asymmetric games; Pooling games; Applications of game theory; Economic applications of game theory; Computational game theory; History of game theory; Strategic interaction; Computer science and game theory; Game theory in philosophy; Game theory in artificial intelligence; Asymmetric game
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  • A four-stage [[centipede game]]
  • Equilibrium for Cournot quantity competition
  • John Nash]]
  • [[John von Neumann]]
  • information set]].
  • An extensive form game

game theory         
¦ noun the mathematical study of strategies for dealing with competitive situations where the outcome of a participant's choice of action depends critically on the actions of other participants. Compare with decision theory.
Game theory         
Game theory is the study of mathematical models of strategic interactions among rational agents.Myerson, Roger B.
Graphical game theory         
  • The graphical form of the described game
Graphical game (game theory)
In game theory, the common ways to describe a game are the normal form and the extensive form. The graphical form is an alternate compact representation of a game using the interaction among participants.

Wikipedia

Game theory

Game theory is the study of mathematical models of strategic interactions among rational agents. It has applications in all fields of social science, as well as in logic, systems science and computer science. Originally, it addressed two-person zero-sum games, in which each participant's gains or losses are exactly balanced by those of other participants. In the 21st century, game theory applies to a wide range of behavioral relations; it is now an umbrella term for the science of logical decision making in humans, animals, as well as computers.

Modern game theory began with the idea of mixed-strategy equilibria in two-person zero-sum game and its proof by John von Neumann. Von Neumann's original proof used the Brouwer fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathematical economics. His paper was followed by the 1944 book Theory of Games and Economic Behavior, co-written with Oskar Morgenstern, which considered cooperative games of several players. The second edition of this book provided an axiomatic theory of expected utility, which allowed mathematical statisticians and economists to treat decision-making under uncertainty.

Game theory was developed extensively in the 1950s by many scholars. It was explicitly applied to evolution in the 1970s, although similar developments go back at least as far as the 1930s. Game theory has been widely recognized as an important tool in many fields. As of 2020, with the Nobel Memorial Prize in Economic Sciences going to game theorists Paul Milgrom and Robert B. Wilson, fifteen game theorists have won the economics Nobel Prize. John Maynard Smith was awarded the Crafoord Prize for his application of evolutionary game theory.

Examples of use of game theory
1. Schelling, for their work in game–theory analysis.
2. A Nobel Prize that was given to an Israeli for game theory was certainly not intended for games like these.
3. Daniel Kaheman before him, won a Nobel prize for improving the understanding of conflict and cooperation through game theory.
4. His research has focused on industrial organization, game theory, finance and banking as well the psychology of economics.
5. Because of the tender‘s complexity, Shomra is being assisted by an expert in game theory, Eyal Winter of Hebrew University.