noun a set of concepts and principles used to analyze and predict the outcomes of competitive situations
In sociology, game theory is used to analyze social interactions, power dynamics, and collective action among individuals or groups.
In economics, game theory is used to model strategic interactions between rational decision-makers in situations where the outcome of one person's decision depends on the decisions of others.
In computer science, game theory is used in algorithm design, networking protocols, and artificial intelligence to model strategic decision-making.
In political science, game theory is used to analyze voting behavior, coalition formation, and other strategic interactions among political actors.
In biology, game theory is used to study behaviors such as altruism, cooperation, and competition in evolutionary settings.
Writers may use game theory to create complex and engaging plots with unexpected twists and turns, keeping readers engaged and interested in the story.
Psychologists use game theory to study human behavior in competitive and cooperative situations, helping them understand decision-making processes and strategic thinking.
Economists frequently use game theory to analyze market behavior, strategic interactions between firms, and economic outcomes in various scenarios.
Business analysts apply game theory to assess competitive landscapes, predict market trends, and develop strategic business plans to gain a competitive advantage.
Political scientists utilize game theory to study international relations, negotiations between countries, and the impact of strategic decisions on global politics.