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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)


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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