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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