The Collaborative International Dictionary
game theory \game theory\ n. A branch of mathematics that deals with strategies for maximizing gains or minimizing losses in competitive situations having defined constraints and involving random factors.
Note: Game theory is used for modelling and analysis of various decision-making situations such as military strategy or business policy. The theoretical models study the interactions among opposing entities called "players," where different kinds of situation can arise, for which the probabilities of occurence are known. Also known is the set of decisions each player can take. When a player takes a decision he makes a gain or incurs a loss. Based on the available knowledge each player tries to adopt a "strategy" so as to maximize his gains. The entire procedure constitutes a game.
Syn: theory of games.
Wiktionary
n. (context mathematics economics English) A branch of applied mathematics that studies strategic situations in which individuals or organisations choose various actions in an attempt to maximize their returns.
WordNet
n. (economics) a theory of competition stated in terms of gains and losses among opposing players [syn: theory of games]
Wikipedia
Game theory is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers." Game theory is mainly used in economics, political science, and psychology, as well as logic, computer science, biology and poker. Originally, it addressed zero-sum games, in which one person's gains result in losses for 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 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 1944 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.
This theory was developed extensively in the 1950s by many scholars. Game theory was later explicitly applied to biology in the 1970s, although similar developments go back at least as far as the 1930s. Game theory has been widely recognized as an important tool in many fields. With the Nobel Memorial Prize in Economic Sciences going to game theorist Jean Tirole in 2014, eleven game-theorists have now won the economics Nobel Prize. John Maynard Smith was awarded the Crafoord Prize for his application of game theory to biology.
Game Theory is a power pop band founded in 1982 by singer/songwriter Scott Miller, combining melodic jangle pop with dense experimental production and hyperliterate lyrics. MTV described their sound as "still visceral and vital" in 2013, with records "full of sweetly psychedelic-tinged, appealingly idiosyncratic gems" that continued "influencing a new generation of indie artists." Between 1982 and 1990, Game Theory released five studio albums and two EPs, which had long been out of print until 2014, when Omnivore Recordings began a series of remastered reissues of the entire Game Theory catalog. Miller's posthumously-completed Game Theory album, Supercalifragile, is expected in early 2017.
Miller was the group's leader and sole constant member, presiding over frequently changing line-ups. During its early years in Davis, California, Game Theory was often associated with the Paisley Underground movement, but remained based in northern California, moving to the Bay Area in 1985, while similarly aligned local bands moved to Los Angeles.
The group became known for its fusion of catchy musical hooks with musical complexity, as well as for Miller's lyrics that often featured self-described "young-adult-hurt-feeling-athons," along with literary references (e.g., Real Nighttime's allusions to James Joyce), and pop culture references ranging from Peanuts ("The Red Baron") to Star Trek quotes ("One More for St. Michael").
Game theory is the study of participants' behaviour in strategic situations.
Game theory may also refer to:
- Combinatorial game theory, the study of move combinations in games like nim, chess, and go.
- Game Theory (band), a 1980s American rock band.
- Game Theory (album), a 2006 album by hip-hop band The Roots.
- Game Theory, a 2011-present webseries by Matthew Patrick.
Game Theory is the seventh studio album by American hip hop band The Roots, released August 29, 2006, on Def Jam Recordings. The group's first release for the label after leaving Geffen Records, the album was recorded by the Roots mostly using the Apple-developed software application GarageBand. A darker, grittier album with minimal emphasis on hooks in comparison to their previous work, Game Theory features a stripped-down sound similar to the work of Public Enemy, with lyrics that concern sociological themes and the late hip hop producer J Dilla.
The album debuted at number nine on the U.S. Billboard 200 chart, selling 61,000 copies in its first week. It produced two singles and achieved moderate sales success. Upon its release, Game Theory received acclaim from most music critics and earned a Grammy Award nomination for Best Rap Album. To date, the album has sold over 200,000 copies in the United States.
Usage examples of "game theory".
It was not weakness as far as game theory was concerned, because in the absence of minimax solutions there was no decision better than one purely random.
He recalled that Lester Bolin had once told him how boring it was to teach game theory to sophomores.
In terms of game theory, doing a cost-benefit sort of analysis&mdash.
If not the highest for humanity and the world, certainly the highest for me: I didn't need algomathematics and game theory to see that the simplest way for them to ensure secrecy in this situation was to do away with the pilot immediately after his return to Earth, as soon as he made his report.
My jungleberry consumption increased for a while, and Bobby Forstadt was for about the same length of time a bit more strident about his computer game theory, saying that the recurring menace of the fritters fit right in, and what we should be doing was attempting to influence the game.