Open AccessAn Overview on Game Theory and Its Application
Author(s) -
Sajedeh Norozpour,
Mehdi Safaei
Publication year - 2020
Publication title -
iop conference series. materials science and engineering
Language(s) - English
Resource type - Journals
eISSN - 1757-899X
pISSN - 1757-8981
DOI - 10.1088/1757-899x/993/1/012114
Subject(s) - game theory , implementation theory , mathematical economics , perfect information , nash equilibrium , computer science , bidding , field (mathematics) , imperfect , management science , extensive form game , dominance (genetics) , repeated game , economics , microeconomics , mathematics , linguistics , philosophy , biochemistry , chemistry , pure mathematics , gene
This research paper looks into Game Theory while immensely addressing the historical background of this theory. The document also gives an overview and definition of relevant terminologies related to this theory like a game, Nash equilibrium, and dominance which form the basis of the theory concept. It also focuses on mixed strategies, extensive games with both perfect and imperfect information, auction bidding, and their relevant practical application of the concept as applied in the field of economics.