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

Artificial General Intelligence refers to AI systems capable of understanding, learning, and performing any intellectual task as humans do. Although AGI remains aspirational, it…
Data Preprocessing involves preparing and cleaning raw data before analysis. By removing noise, selecting relevant features, and addressing missing values, businesses can ensure data…
Uncertainty in AI refers to the unpredictability or lack of full knowledge about a situation or outcome. AI models often encounter uncertainties due to…