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

Cognitive Computing involves creating computer systems that can imitate human cognitive abilities, such as perception, reasoning, learning, and problem-solving. By combining AI, Machine Learning,…
Deep Learning, a subfield of AI, leverages neural networks with numerous interconnected layers to process vast amounts of data, enabling machines to learn and…
Ontologies are a representation of knowledge that defines concepts and the relationships among them. Ontologies enable machines to structure and reason information in a…