600 results for "game theory"

Game theory, or interactive decision theory, is the study of how and why decisions are made between multiple parties. Game theory has applications in various areas of study like political science, economics, philosophy, ethics, and biology. The discipline of game theory attempts to map out the decision-making process for scenarios with multiple variables. You can think of game theory as a study of negotiation. The decision-makers in game theory can be individuals or groups, such as governments.‎

Game theory sounds like it applies to sports or board games, but it's really about strategic decision making. Whether you're looking to benefit your career with better negotiation skills or you want to make better decisions in your personal life, game theory can help you analyze and understand the variables that are involved in the scenarios you face. Learning the ins and outs of game theory allows you to simulate the possible outcomes of different decisions, which can help you figure out how to make the best decisions for yourself or your business interests.‎

You can use game theory to approach different decision-making scenarios strategically. You can apply the principles of game theory to purchasing and other transactions, and you can use them in real estate negotiations and investment decisions. Game theory even works when you're negotiating a salary increase or benefits package for your own career. Applying game theory to any of your interactive decisions can help you gain an advantage in any scenario that involves negotiating.‎

If you're new to game theory or if you have some experience with it, you can benefit from online courses on Coursera. You'll receive instruction from some of the best professors in the academic world, and they allow you to grasp both the concepts and practical applications that game theory offers. Through online courses, you'll have the opportunity to gain confident knowledge of game theory that you'll be able to apply to your career and personal pursuits.‎