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Game Theory - Coggle Diagram
Game Theory
Definition of Game theory
Game theory is basically a branch of mathematics that is used to typical strategic interaction between different players (agents
The Monty Hall Problem
The Monty Hall problem is a probability puzzle where a contestant must decide whether to stick with their initial choice or switch to another option, typically resulting in a counterintuitive outcome.
Forms of game
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Extensive form
Depicts a game as a tree, illustrating the sequence of decisions and their outcomes over time, including information about players' moves and timing.
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The 2/3 Game
In this game, players choose a real number from 0 to 100 at the same time. The winner is determined by who selects a number closest to two-thirds of the average of all players' chosen numbers.
The Nash Equilibrium (Jhon Forbes Nash 1950 )
Nash equilibrium, in game theory, refers to a situation where the game reaches a state where no player can benefit further by unilaterally changing their strategy, resulting in an optimal outcome.
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