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Game Theory - Coggle Diagram
Game Theory
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Game theory
The study of mathematical models on cooperation between intelligent rational decision-makers. Interactive decision theory
Examples: Prisoner's Dilemma, Chicken Game
Forms of games
Extensive
Represent a game as a tree where nodes represent decision points and branches represent possible actions
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Allows representation on imperfect information and chance events. Example: poker, chess
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Monty Hall Problem
This is a famous example for cognitive illusion. Probability puzzle based on a game show scenario. The objective is to determine the strategy which maximizes probability of winning
Nash Equilibrium
Nah Equilibrium is concept named after mathematician John Nash. This theory in game theory refers to a situation where each participant's strategy is optimal given strategies of all other participants.