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Game Theory - Coggle Diagram
Game Theory
Definition
A mathematical framework for analyzing situations where multiple players make decisions affecting each other
Applies to economics, politics, biology, AI, and social science
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Core Concepts
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Dominant Strategy
The best move for a player, regardless of what others do
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Game Formats
Normal Form
Simultaneous decisions, often represented in matrix form
E.g., Rock-Paper-Scissors, poker
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Famous Scenarios
Prisoner's Dilemma
Two rational individuals might not cooperate, even if it's in their best interest
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Stag Hunt
Illustrates cooperation: better outcome if all cooperate, but risk if others defect
Applications & Contexts
Economics – market competition, auctions
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Politics – treaty negotiations, voting systems
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