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

Generative Adversarial Networks are a type of Machine Learning model that consists of two neural networks: a generator and a discriminator. GANs are used…
Clustering in AI refers to the process of grouping similar data points together based on their inherent characteristics or attributes. By identifying patterns or…
Machine Vision refers to the use of AI and computer vision techniques to enable machines to perceive and understand visual information. It involves analysing…
Autonomous agents are AI systems that can perform actions and make decisions independently, guided by predefined goals or learning processes. Businesses leverage autonomous agents…