gametheory

Meanings

• noun

  The study of mathematical models of strategic interaction between rational agents.

  - "Game theory is a mathematical model of strategic interaction between rational agents."
  - "In game theory, players make decisions based on their rational self-interest."

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Variants

List of all variants of gametheory that leads to same result
game theories , game theorist , game theory

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Etymology

origin and the way in which meanings have changed throughout history.

Derived from the Greek word 'gamos' meaning 'marriage' and 'theoria' meaning 'spectacle' or 'contemplation'.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Game theory was formally introduced in the 1940s by John von Neumann and Oskar Morgenstern.

2. The first recorded use of game theory in a non-mathematical context was in ancient India, where it was used to analyze the outcomes of military conflicts.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Strategic game: A game in which the outcome depends on the strategies chosen by two or more rational players.

2. Nash equilibrium: A solution concept in game theory where no player can benefit by unilaterally changing their strategy, given the strategies of the other players.

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Culture

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Game theory has been used extensively in various fields such as economics, political science, biology, and psychology to analyze strategic situations and predict outcomes.

How to Memorize "gametheory"

1. visualize
   

   - Visualize a game board with two players making moves to reach their objectives.
   - Imagine a graph representing the possible outcomes of a strategic interaction.

2. associate
   

   - Associate game theory with rational decision-making and strategic interactions.
   - Link game theory to the concept of a 'win-win' situation.

3. mnemonics
   

   - Use the acronym G.A.M.E. to remember the key components of game theory: Goals, Actions, Methods, and Evaluation.
   - Create a mnemonic sentence like 'Game theory is a way to analyze, model, and predict strategic interactions.'

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