Game theory | Mathematical economics
Game theory is the study of mathematical models of strategic interactions among rational agents. It has applications in all fields of social science, as well as in logic, systems science and computer science. Originally, it addressed two-person zero-sum games, in which each participant's gains or losses are exactly balanced by those of other participants. In the 21st century, game theory applies to a wide range of behavioral relations; it is now an umbrella term for the science of logical decision making in humans, animals, as well as computers. Modern game theory began with the idea of mixed-strategy equilibria in two-person zero-sum game and its proof by John von Neumann. Von Neumann's original proof used the Brouwer fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathematical economics. His paper was followed by the 1944 book Theory of Games and Economic Behavior, co-written with Oskar Morgenstern, which considered cooperative games of several players. The second edition of this book provided an axiomatic theory of expected utility, which allowed mathematical statisticians and economists to treat decision-making under uncertainty. Game theory was developed extensively in the 1950s by many scholars. It was explicitly applied to evolution in the 1970s, although similar developments go back at least as far as the 1930s. Game theory has been widely recognized as an important tool in many fields. As of 2020, with the Nobel Memorial Prize in Economic Sciences going to game theorists Paul Milgrom and Robert B. Wilson, fifteen game theorists have won the economics Nobel Prize. John Maynard Smith was awarded the Crafoord Prize for his application of evolutionary game theory. (Wikipedia).
Jules Hedges - compositional game theory - part I
Compositional game theory is an approach to game theory that is designed to have better mathematical (loosely “algebraic” and “geometric”) properties, while also being intended as a practical setting for microeconomic modelling. It gives a graphical representation of games in which the flo
From playlist compositional game theory
3 game theory tactics, explained
How to maximize wins and minimize losses, explained by four experts on game theory. Subscribe to Big Think on YouTube ► https://www.youtube.com/channel/UCvQECJukTDE2i6aCoMnS-Vg?sub_confirmation=1 Up next, Harvard negotiator explains how to argue ► https://youtu.be/IDj1OBG5Tpw Game theory
From playlist Get smarter, faster
Why Game Theory is Not About Competition
This video was made possible by our Patreon community! ❤️ See new videos early, participate in exclusive Q&As, and more! ➡️ https://www.patreon.com/EconomicsExplained ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ Game Theory is supposed to show how businesses (and prisoners) can outdo each other to win out
From playlist Case Studies
Game theory (1), prisoner's dilemma.
This video introduces game theory; an influential perspective used in both evolutionary biology and economics. The prisoner's dilemma model is described as well as the predictions it makes for optimal strategies when many interactions of this type are made.
From playlist TAMU: Bio 312 - Evolution | CosmoLearning Biology
Jules Hedges - compositional game theory - part III
Compositional game theory is an approach to game theory that is designed to have better mathematical (loosely “algebraic” and “geometric”) properties, while also being intended as a practical setting for microeconomic modelling. It gives a graphical representation of games in which the flo
From playlist compositional game theory
1. Introduction: five first lessons
Game Theory (ECON 159) We introduce Game Theory by playing a game. We organize the game into players, their strategies, and their goals or payoffs; and we learn that we should decide what our goals are before we make choices. With some plausible payoffs, our game is a prisoners' dilemma.
From playlist Game Theory with Ben Polak
Game Theory: Winning the Game of Life
Game Theory: Winning the Game of Life - Game Theory Explained Sign up and start learning today for FREE: https://brilliant.org/aperture Follow me!: https://www.instagram.com/mcewen/ Game Theory is an interesting subject. It has implications on all of our lives, and it's not something that
From playlist Philosophy & Psychology 🧠
Jules Hedges - compositional game theory - part IV
Compositional game theory is an approach to game theory that is designed to have better mathematical (loosely “algebraic” and “geometric”) properties, while also being intended as a practical setting for microeconomic modelling. It gives a graphical representation of games in which the flo
From playlist compositional game theory
Game Theory , Part 1 ( Quick Introduction )
Thanks to all of you who support me on Patreon. You da real mvps! $1 per month helps!! :) https://www.patreon.com/patrickjmt !! Part 2: http://www.youtube.com/watch?v=Y3VVwEZnN3g Game Theory , Part 1 ( Quick Introduction ). Here I just give a little history and motivation for what I pl
From playlist All Videos - Part 1
Mod-01 Lec-01 Definition of Game Theory and Rational Choice
Game Theory and Economics by Dr. Debarshi Das, Department of Humanities and Social Sciences, IIT Guwahati. For more details on NPTEL visit http://nptel.iitm.ac.in
From playlist IIT Guwahati: Game Theory and Economics | CosmoLearning.org Economics
Cohesive Games and Lessons Learned from the Field Theory of Games
Based on teaching the Field Theory of Games to upper-class students, there were interesting lessons learned. For example, it is possible in a short time to educate them to use the Wolfram Language sufficiently to apply the field theory of games to problems of interest to them. It is possib
From playlist Wolfram Technology Conference 2022
Computational Approach to Game Theory
To learn more about Wolfram Technology Conference, please visit: https://www.wolfram.com/events/technologyconference/ Speaker: Gerald Thomas Wolfram developers and colleagues discussed the latest in innovative technologies for cloud computing, interactive deployment, mobile devices, and
From playlist Wolfram Technology Conference 2017
Mod-01 Lec-02 Interacting Decision Makers
Game Theory and Economics by Dr. Debarshi Das, Department of Humanities and Social Sciences, IIT Guwahati. For more details on NPTEL visit http://nptel.iitm.ac.in
From playlist IIT Guwahati: Game Theory and Economics | CosmoLearning.org Economics
Game theory was originally proposed to model the economic behavior of rational agents. Besides the introduction of influential concepts in economics and finance, it provided useful tools in other human-related fields such as sociology, politics and military strategy. The framework appeared
From playlist Wolfram Technology Conference 2021
05 - Topic Review & Pedagogical Theories for Serious Games
Initial Kahoot on past sessions, followed by overview of various learning theories as far as relevant for Serious Games. Continued next week...
From playlist 2021 - IMT4307 - Serious Games
The Prisoners Dilemma - The Most Famous Problem in Game Theory
The Prisoner's Dilemma is the most famous problem in game theory, as it shows that individuals who make rational decisions might end up in an outcome that's worse for everyone in the group. In other words, individual rationality does not imply group rationality. Watch a higher quality ver
From playlist Game Theory