Game Theory - Deepstash
Game Theory

Game Theory

  • In 1994 Nash, Selten and Harsanyi became Economics Nobel Laureates for their contributions to economic game theory.
  • Non-cooperative games are those where participants make non-binding agreements. They base their decisions on how they think the other participants will behave, without knowing how they really will behave.
  • The Nash Equilibrium is a method for predicting the outcome of non-cooperative games based on equilibrium. These findings have been applied to dynamic strategic interactions, and to scenarios with incomplete information to help develop the field of information economics.

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