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Wednesday, June 13, 2018

Introduction to Game Theory

We used Game theory linked methods to try to understand competitive activity.   We used these methods not necessarily to solve for a best strategy, but to think about how to gather data about the underlying competitive process.  Follow all the parts:

KDnuggets provides a simple, non technical view of game theory.  Part 1:

Check out this game theory basics post for an introduction to Two-player Sequential games — 

Dominant Strategies, Nash Equilibrium, and Cooperation vs. Defection.

Game theory generally refers to the study of mathematical models that describe the behavior of logical decision-makers. It is widely used in many fields such as economics, political science, politics, and computer science, and can be used to model many real-world scenarios. Generally, a game refers to a situation involving a set of players who each have a set of possible choices, in which the outcome for any individual player depends partially on the choices made by other players.  ... "

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