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

Digital assistants, also known as Virtual Assistants or Chatbots, are AI-powered software applications that can engage in conversations and perform tasks on behalf of…
Neuroevolution is a type of AI learning that combines neural networks and evolutionary algorithms. Neuroevolution algorithms evolve neural networks over generations, adapting them to…
Hyperparameters are parameters that are set before the training of an AI model. They control the behaviour and performance of the model, such as…
Humanoid Robots are advanced machines designed to resemble and interact with humans in a human-like manner. These robots are equipped with AI capabilities that…