Category: Game Theory

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What is Game Theory?

Game Theory is a mathematical discipline developed by one of the most influential figures in computer science, John von Neumann. Simply put, it is the study of strategies of rational decision makers in games. From that description alone it may not be immediately obvious why that game theory is an influential field, or why it's even of interest to anyone. Game theory enables us to make predictions about how people will behave in games. The word "game" can be misleading, because the field isn't limited to conventional games but applies to all kinds of interactions between rational decision makers. Continue reading »