2006-08-14 05:10:16 · 3 answers · asked by isaac e 1 in Social Science ➔ Economics
Game theory (not games theory) is a hybrid branch of applied mathematics and economics that studies strategic situations where players choose different actions in an attempt to maximize their returns.
2006-08-14 06:31:20 · answer #1 · answered by NC 7 · 0⤊ 0⤋
The game theory is set of mathematic and economical situations like the prisioner's dilemma developed by John Nash.
2006-08-14 18:31:30 · answer #2 · answered by College Guy 4 · 0⤊ 0⤋
The theory develops methods to maximize or minimize desired outcomes. It started with games, but can be applied to all decision making. Besides well known use among police in interviewing suspects, it is widely used by transportation companies in optimizing routing.
2006-08-14 14:21:57 · answer #3 · answered by Richard B 4 · 0⤊ 0⤋