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Definitions from WordNet

Definitions from the Web

Game Theory

Description:

Game theory is a branch of mathematics and economics that studies how individuals or groups make decisions strategically in competitive situations. It analyzes the choices and behaviors of players by considering their rationality, knowledge, and possible outcomes. Game theory provides a framework for understanding strategies, cooperation, competition, and decision-making in various fields.

Sample Sentences:

Noun - Theoretical Concept:

1. The prisoner's dilemma is a classic example in game theory.
2. In game theory, players try to maximize their expected payoff.
3. John Nash made significant contributions to the field of game theory.

Noun - Academic Discipline:

1. Game theory is an essential subject in economics and political science.
2. Many universities offer courses in game theory to help students understand strategic decision-making.
3. The study of game theory provides valuable insights into human behavior.

Related Verb - Apply Game Theory:

1. To solve the problem, we can apply game theory techniques.
2. In negotiations, understanding game theory can lead to better outcomes.
3. Companies often use game theory to determine their pricing strategies.

Related Adjective - Game-Theoretical:

1. We studied the game-theoretical model of cooperative behavior.
2. The game-theoretical analysis predicted the most likely outcome of the competition.
3. Game-theoretical simulations can help in understanding complex systems.

Related Products:

• Books on Game Theory
• Strategic Decision-Making Products
• Economics Textbooks