Explore how backward induction helps solve game theory problems by working from the end backward to determine optimal actions ...

The concept of Nash equilibrium has long served as a cornerstone in game theory, characterising a state where no player can benefit by changing their strategy unilaterally. Recent advancements have ...

Discover how the Matching Pennies game illustrates strategic decision-making and Nash Equilibrium in game theory, with insights on payoff dynamics and asymmetric strategies.

Game theory is the study of how and why players make decisions about their circumstances. Using game theory, real-world scenarios for such situations as pricing competition and product releases can be ...