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

OpenAI is a research organisation dedicated to advancing AI in a safe and beneficial way. They develop cutting-edge AI technology while prioritising ethical considerations…
Unsupervised Learning is a Machine Learning technique where models learn patterns and structures within data without labelled examples. By uncovering hidden relationships and clustering…
Natural Language Generation is an AI technique that converts structured data into human-like text. NLG systems use Machine Learning algorithms to understand the data…
Sentiment Analysis is an AI technique that analyses emotions and opinions expressed in text data. Sentiment analysis can classify text as positive, negative, or…