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Game theory (Basic terms (Game: dependent on the actions of two of more…
Game theory
Basic terms
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Equilibrium: The point in a game where both players have made their decisions and an outcome is reached.
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Theories
Nash Equilibrium
Nash Equilibrium theory proves that every game can achieve a point on which no player can benefit from switching strategy assuming than the other players stay with their current strategy. That state is known as Equilibrium.
Inversed Game Theory
the problem is not to optimize the participant’s strategy on a game but to design a game around the behavior of rational participants. this is the role of inversed game theory.
Introduction
the study of mathematical models of conflict and cooperation between intelligent rational decision-makers