Game theory (博弈论 bóyì lùn) refers to the study of strategic decision making and mathematical models of negotiation between different players. Players try to maximize gains and minimize losses in a prescribed setting, and each player’s pay-off is affected by the decision made by others. A famous example is the prisoner’s dilemma. Game theory is applied in various real-world scenarios, such as pricing competition and military strategy.
- 博 (bó) as in gambling (赌博 dǔbó) or fight (搏击 bójī).
- 弈 (yì) originally refers to play chess.
- 论 (lùn) as in thesis (论文 lùnwén) or debate (辩论 biànlùn).
Game theory (博弈论 bóyì lùn) as in:» Add a new term or correction« Back to Glossary Index