Game Theory

 

Game Theory

 

Life is not about playing games, but knowing game theory can help in life, especially in your ever complex life . Game theory, a mathematical study of strategies in games, found a firm, mathematical footing in 1928 when Von Neumann showed that every two-person zero sum game has a maxi-min solution, in mixed if not in pure strategies. In 1951, John Nash extended Neumann’s theory to N-person non-cooperative games and established the notion of what is now famously known as the Nash-equilibrium, which has been since used to predict the outcome of complex interactions among rational entities.... More coming....

 

Sunday, January 26, 2014

 
 

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