What is Game Theory:
Game theory is the process of modeling the strategic interaction between two or more players in a situation containing rules and outcomes. Game theory comes into play whenever any two or more people interact. The may work together or work against one another. In either case game theory studies what interactions or strategies those individuals may use and predicts the outcomes of those strategies. The strategies are put into a matrix with numerical values assigned to each outcome and for each person. This applied mathematics is used in economics, biology, sociology, and various other fields to study decision making and shows the best course of action for those involved.
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