game theory, theory of games(noun)
(economics) a theory of competition stated in terms of gains and losses among opposing players
A branch of applied mathematics that studies strategic situations in which individuals or organisations choose various actions in an attempt to maximize their returns.
Game theory is a study of strategic decision making. More formally, it is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers". An alternative term suggested "as a more descriptive name for the discipline" is interactive decision theory. Game theory is mainly used in economics, political science, and psychology, as well as logic and biology. The subject first addressed zero-sum games, such that one person's gains exactly equal net losses of the other participant. Today, however, game theory applies to a wide range of behavioral relations, and has developed into an umbrella term for the logical side of decision science, to include both human and non-humans, like computers. Modern game theory began with the idea regarding the existence of mixed-strategy equilibria in two-person zero-sum games and its proof by John von Neumann. Von Neumann's original proof used Brouwer's fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathematical economics. His paper was followed by his 1944 book Theory of Games and Economic Behavior, with Oskar Morgenstern, which considered cooperative games of several players. The second edition of this book provided an axiomatic theory of expected utility, which allowed mathematical statisticians and economists to treat decision-making under uncertainty.
U.S. National Library of Medicine
Theoretical construct used in applied mathematics to analyze certain situations in which there is an interplay between parties that may have similar, opposed, or mixed interests. In a typical game, decision-making "players," who each have their own goals, try to gain advantage over the other parties by anticipating each other's decisions; the game is finally resolved as a consequence of the players' decisions.
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The numerical value of game theory in Chaldean Numerology is: 1
The numerical value of game theory in Pythagorean Numerology is: 9
Sample Sentences & Example Usage
It’s hard to get hurt now in Puerto Rico, it’s more of a timing risk. Could someone come in and play massive hardball ? Yes, but that would sort of prolong the process. You can game-theory Puerto Rico.
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From our Multilingual Translation Dictionary
- teoria dels jocsCatalan, Valencian
- teorie herCzech
- θεωρία παιγνίωνGreek
- teoría de juegosSpanish
- théorie des jeuxFrench
- teoiric chluichí, teoiric imeartaisIrish
- teori permainanIndonesian
- teoria dei giochiItalian
- žaidimų teorijaLithuanian
- spelteoriNorwegian Nynorsk
- teoria gierPolish
- teoria dos jogosPortuguese
- teoria joculuiRomanian
- теория игрRussian
- teória hierSlovak
- விளையாட்டுக் கொள்கைTamil
- oyun kuramıTurkish
- o‘yinlar nazariyasiUzbek
- lý thuyết trò chơiVietnamese
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