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…
Explainable Artificial Intelligence focuses on developing AI systems that can provide understandable explanations for their decisions and behaviours. Transparent and interpretable AI models are…
Humanoid Robots are advanced machines designed to resemble and interact with humans in a human-like manner. These robots are equipped with AI capabilities that…
Recommender Systems are AI systems that provide personalised recommendations to users based on their preferences and previous behaviour. These systems analyse large amounts of…