Game Theory A Beautiful Mind

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game theory, a beautiful mind

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Game Theory A Beautiful Mind

  1. 1. Game Theory By Nainil Chheda http://www.nainil.com
  2. 2. Definition <ul><li>The theory of making the best choice from among the available strategies given imperfect information.[1] </li></ul><ul><ul><li>Retrieved from: www.indiainfoline.com/bisc/accg.html </li></ul></ul>
  3. 3. Founders <ul><li>John von Neumann </li></ul><ul><li>Oskar Morgenstern </li></ul><ul><li>Sir John Nash (Princeton University, NJ) </li></ul>
  4. 4. Purpose <ul><li>“ To find a solution to a problem which would lead to a ‘Win-Win’ situation for all the involved parties ” – Nainil Chheda. </li></ul><ul><li>A scenario where everybody wins = Nash Equilibrium </li></ul>
  5. 5. Types of games <ul><li>Symmetric and asymmetric </li></ul><ul><li>Zero sum and non-zero sum </li></ul><ul><li>Simultaneous and sequential </li></ul><ul><li>Perfect information and imperfect information </li></ul><ul><li>Infinitely long games </li></ul><ul><ul><ul><li>Retrieved from: http://en.wikipedia.org/wiki/Game_theory </li></ul></ul></ul>
  6. 6. Uses of Game Theory <ul><li>Analysis of Economic Problems </li></ul><ul><li>Auctions </li></ul><ul><li>War Strategies </li></ul><ul><li>Politics </li></ul>
  7. 7. Prisoners Dilemma <ul><li>http://en.wikipedia.org/wiki/Prisoners_dilemma </li></ul>

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