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Game theory (Applications (Psychology, Computer science, Economics,…
Game theory
Applications
Psychology
Computer science
Economics
Biology
Military strategy
Political science
Types
Cooperative and Non-Cooperative
Simultaneous and Sequential
Zero sum and Non zero sum
Symmetric and Asymmetric
Normal and Extensive Form
Introduction
It is the branch of mathematics
Involve in the analysis of strategies for dealing with competitive situation.
Study of human behavior
Objectives
Participant Design
Optimize the decision to obtain maximum utility
Mechanism Design
Inverse game theory
Focus on designing a game for group of intelligent participant
Example: Auction
Popular equation of game theory
Nash Equilibrium
It provides a way of predicting what will happen if several people are make decisions at the same time.
Won Nobel prize in 1994
Named after American mathematician John Forbes Nash Jr.