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Game theory (Application (war, politics, Psycology, Business, Economics),…
Game theory
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History
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It was established as a field in its own right after the 1944 publication of the monumental volume "theory of games of economics behavior".
In the 1950s and 1960s, game theory was broadened theoretically and applied to problems of war and politics.
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Defination
Extensive form games
It is a specification of a game in game theory, allowing for the explicit representation of a number of key aspects like the requencing of players possible moves, their choices, the information and their payoffs.
Normal form games
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unlike extensive form, normal form representation are not graphical bu rather represents game by way of a matrix.
Nash euilibrium
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It is a kind of solution concepts of a game involving two or more players where no players has anything to gain by changing only his own strategy.
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Games
Prisoner’s Dilemma (PD)
The prisoner's dilemma is a standard example of a game analyzed in game theory that shows why two completely rational individuals might not cooperate, even if it appears that it is in their best interests to do so
Public Good Game
The public goods game is a standard of experimental economics. In the basic game, subjects secretly choose how many of their private tokens to put into a public pot. The tokens in this pot are multiplied by a factor (greater than one and less than the number of players, N) and this "public good" payoff is evenly divided among players. Each subject also keeps the tokens they do not contribute.
The Ultimatum Game
The ultimatum game is a game in economic experiments. The first player (the proposer) conditionally receives a sum of money and proposes how to divide the sum between the proposer and the other player
Rock, Paper, Scissors
Rock–Paper–Scissors (also known as paper, scissors, stone or other variants) is a hand game usually played between two people, in which each player simultaneously forms one of three shapes with an outstretched hand
Introduction
Game theory is the "study of mathematical models of conflict ans cooperation between intelligent rationals decisions-maker".
Game theory is mainly used in economics, political science, and psychology as well as in logic and computer science.
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