Browse Definitions:
Definition

game theory

Game theory is the study of mathematical models of negotiation, conflict and cooperation between individuals, organizations and governments. The study has direct applications in contract theory, economics, sociology and psychology.

Game theory is applied in various areas of study to understand why an individual makes a particular decision and how the decisions made by one individual affect others. The application of game theory concepts and techniques to non-game activities is known as gamification.

Game theory research involves studies of the interactions among people or groups of people. Because people make use of an ever-increasing number and variety of technologies to achieve desired ends, game theory can be directly applied in areas of negotiation, such as contract theory and indirectly applied in practical pursuits such as engineering, information technology and computer science.

So-called games can range from simple personal or small group encounters or problems to major confrontations between corporations or superpowers. One of the principal aims of game theory is to determine the optimum strategy for dealing with a given situation or confrontation. This can involve such goals as maximizing one's gains, maximizing the probability that a specific goal can be reached, minimizing one's risks or losses, or inflicting the greatest possible damage on adversaries.

Game theory was first devised by John Von Neumann. Later contributions were made by John Nash, A. W. Tucker, and others.

This was last updated in May 2016

Continue Reading About game theory

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

Powered by:

SearchCompliance

  • pure risk (absolute risk)

    Pure risk, also called absolute risk, is a category of threat that is beyond human control and has only one possible outcome if ...

  • risk assessment

    Risk assessment is the identification of hazards that could negatively impact an organization's ability to conduct business.

  • audit program (audit plan)

    An audit program, also called an audit plan, is an action plan that documents what procedures an auditor will follow to validate ...

SearchSecurity

  • computer worm

    A computer worm is a type of malicious software program whose primary function is to infect other computers while remaining ...

  • black hat

    Black hat refers to a hacker who breaks into a computer system or network with malicious intent.

  • copyright

    Copyright is a legal term describing ownership of control of the rights to the use and distribution of certain works of creative ...

SearchHealthIT

SearchDisasterRecovery

  • business continuity plan (BCP)

    A business continuity plan (BCP) is a document that consists of the critical information an organization needs to continue ...

  • call tree

    A call tree -- sometimes referred to as a phone tree -- is a telecommunications chain for notifying specific individuals of an ...

  • mass notification system (MNS)

    A mass notification system is a platform that sends one-way messages to inform employees and the public of an emergency.

SearchStorage

SearchSolidStateStorage

  • RRAM or ReRAM (resistive RAM)

    RRAM or ReRAM (resistive random access memory) is a form of nonvolatile storage that operates by changing the resistance of a ...

  • JEDEC

    JEDEC is a global industry group that develops open standards for microelectronics.

  • M.2 SSD

    An M.2 SSD is a solid-state drive (SSD) that conforms to a computer industry specification written for internally mounted storage...

SearchCloudStorage

  • Google Cloud Storage

    Google Cloud Storage is an enterprise public cloud storage platform that can house large unstructured data sets.

  • RESTful API

    A RESTful application program interface breaks down a transaction to create a series of small modules, each of which addresses an...

  • cloud storage infrastructure

    Cloud storage infrastructure is the hardware and software framework that supports the computing requirements of a private or ...

Close