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

Time Series Analysis is an AI technique that analyses data points collected over time. This approach involves detecting trends, patterns, and seasonality in the…
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,…
Neuroevolution is a type of AI learning that combines neural networks and evolutionary algorithms. Neuroevolution algorithms evolve neural networks over generations, adapting them to…
The Internet of Things refers to a network of interconnected devices, sensors, and objects that can collect and exchange data. IoT Devices enable the…