Category Archives: Game Theory

What is game theory and what are some of its applications?

What is game theory and what are some of its applications? Game: A competitive activity involving skill, chance, or endurance on the part of two or more persons who play according to a set of rules, usually for their own amusement or for that of spectators (The Random House Dictionary of the English Language,1967). Consider…
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Intro to Game Theory, part 1

Intro to Game Theory,  part 1 Game theory is widely regarded as having its origins in the mid-nineteenth century with the publication in 1838 of Augustin Cournot's Researches into the Mathematical Principles of the Theory of Wealth, in which he attempted explain the underlying rules governing the behaviour of duopolists. However, it was with the…
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