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

A convolutional neural network is a powerful deep learning model designed for processing and analysing visual data. It excels in tasks such as image…
OpenAI is a research organisation dedicated to advancing AI in a safe and beneficial way. They develop cutting-edge AI technology while prioritising ethical considerations…
Unsupervised Learning is a Machine Learning technique where models learn patterns and structures within data without labelled examples. By uncovering hidden relationships and clustering…
Decision networks, also known as Probabilistic Graphical Models, are a type of AI model that represents uncertain knowledge using a graph structure. Decision Networks…