The objective of game theory is to analyze the relationship between decision-making situations in order to achieve a desirable outcome. The theory can be applied to a wide range of applications, including, but not limited to, economics, politics and even the biological sciences. In essence, game theory serves as means to create a model to represent certain scenarios that have a variety of variables and potential outcomes. With these models developed from game theory, one can determine if assumptions made for a certain scenario are valid or whether additional models should be created that could more accurately assess the current problem. Game theory can be broken into a variety of different "games," each analyzing different situations in which a decision is to be made by one player with other players potentially affecting the process.

Last modified

• 11/29/2018

Creator

• Matt Kweon
• Nick Dotzenrod

DOI

• https://doi.org/10.21985/N2ST8Z

Keyword

• Game Theory
• Matrices
• Matrix

Rights statement

• In Copyright