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

Zero-Shot Learning is an AI approach that enables models to learn to recognise new classes or concepts without explicit training examples. This is achieved…
Natural Language Processing involves the interaction between computers and human language, enabling machines to understand, interpret, and generate human language. It powers applications like…
A Large Language Model refers to a type of advanced Artificial Intelligence model designed to exhibit human-like language understanding and generation abilities. LLMs are…
Autonomous agents are AI systems that can perform actions and make decisions independently, guided by predefined goals or learning processes. Businesses leverage autonomous agents…