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2 definitions found
 for game theory
From The Collaborative International Dictionary of English v.0.48 :

  game theory \game theory\ n.
     A branch of mathematics that deals with strategies for
     maximizing gains or minimizing losses in competitive
     situations having defined constraints and involving random
     factors.
  
     Note: Game theory is used for modelling and analysis of
           various decision-making situations such as military
           strategy or business policy. The theoretical models
           study the interactions among opposing entities called
           "players," where different kinds of situation can
           arise, for which the probabilities of occurence are
           known. Also known is the set of decisions each player
           can take. When a player takes a decision he makes a
           gain or incurs a loss. Based on the available knowledge
           each player tries to adopt a "strategy" so as to
           maximize his gains. The entire procedure constitutes a
           game.
  
     Syn: theory of games.
          [WordNet 1.5]

From WordNet (r) 3.0 (2006) :

  game theory
      n 1: (economics) a theory of competition stated in terms of
           gains and losses among opposing players [syn: game
           theory, theory of games]

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