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Game theory is the study of mathematical models of strategic interaction in between rational decision-makers. Originally, it addressed zero-sum games , in which each participant's gains or losses are exactly balanced by those of the other participants. Today, game theory applies to a wide range of behavioral relations, and is now an umbrella term for the science of logical decision making in humans, animals, and 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 the Brouwer 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 the book Theory of Games and Economic Behavior , co-written 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. Game theory was developed extensively in the s by many scholars.
An Instructive Example. Reviews of Game Theory Texts. What economists call game theory psychologists call the theory of social situations, which is an accurate description of what game theory is about. Although game theory is relevant to parlor games such as poker or bridge, most research in game theory focuses on how groups of people interact.
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What are Matchmaking Events (Brokerage Events)?
First Monday episode. Starting at and going to They don't push too far and thus don't run into the same logical issues we've found out already. Headlines about each of the housemates They pick Kai.