What is game theory?
An example of an AI chatbot conversation about game theory concepts and applications.
What is game theory?
Game theory is a mathematical framework for analyzing strategic interactions among rational decision-makers.
Can you give me an example of a game in game theory?
Sure! A classic example is the Prisoner's Dilemma, where two individuals must decide whether to cooperate or betray each other.
How is game theory applied in real life?
Game theory is used in economics, political science, psychology, and even biology to model competitive situations and predict outcomes.
What are some key concepts in game theory?
Key concepts include Nash equilibrium, dominant strategies, and zero-sum games, which help analyze different strategic scenarios.
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