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