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

Neural Networks are a type of Machine Learning model inspired by the human brain. They are composed of interconnected nodes, or “neurons,” that process…
Generative Adversarial Networks are a type of Machine Learning model that consists of two neural networks: a generator and a discriminator. GANs are used…
The Zeroth Law of Robotics is a fictional concept introduced by science fiction author Isaac Asimov. It suggests that a robot’s actions should not…
Artificial Neural Networks are computational models inspired by the human brain’s structure and function. They consist of interconnected nodes that process and transmit data,…