My Account
Forward Thinking Logo

What is Game Theory?

Skill Level:

Game Theory is a mathematical framework used to study and analyse strategic decision-making in situations involving multiple actors or players. It helps businesses understand and predict the behaviour of competitors, customers, and other stakeholders. Game Theory finds applications in areas like pricing strategies, auction design, and negotiation tactics.

Other Definitions

Autonomous Agents

Autonomous agents are AI systems that can perform actions and make decisions independently, guided by predefined goals or learning processes. Businesses leverage autonomous agents…

Federated Learning

Federated Learning is a privacy-preserving technique where AI models are trained across multiple decentralised devices or systems without sharing raw data. Instead, only aggregated…

Hyperparameters

Hyperparameters are parameters that are set before the training of an AI model. They control the behaviour and performance of the model, such as…

Bayesian Networks

Bayesian networks are Probabilistic Graphical Models that represent and evaluate uncertainty and conditional dependencies between variables. Industries such as healthcare and finance use Bayesian…
Back to Glossary