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

Deep Learning, a subfield of AI, leverages neural networks with numerous interconnected layers to process vast amounts of data, enabling machines to learn and…
Bayesian networks are Probabilistic Graphical Models that represent and evaluate uncertainty and conditional dependencies between variables. Industries such as healthcare and finance use Bayesian…
Sentiment Analysis is an AI technique that analyses emotions and opinions expressed in text data. Sentiment analysis can classify text as positive, negative, or…
Recommender Systems are AI systems that provide personalised recommendations to users based on their preferences and previous behaviour. These systems analyse large amounts of…