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Game Theory

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PPGPortal > Home > Concept Dictionary > F, G, H > Game Theory
 

Game Theory 

The general analysis of strategic interaction between individuals.

(Dwayne Benjamin, Toronto PPG 1002H)

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Game theory models strategic behaviour by agents who understand that their actions affect the actions of other agents. The “games” studied by economists typically involve a set of players, a set of available strategies for each player and a set of payoffs to each player for every possible choice of strategy made by the players in the game.

     

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