Game Theory

[Revised entry by Don Ross on December 9, 2014. Changes to: Main text, Bibliography] Game theory is the study of the ways in which interacting choices of economic agents produce outcomes with
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[Revised entry by Don Ross on December 9, 2014. Changes to: Main text, Bibliography] Game theory is the study of the ways in which interacting choices of economic agents produce outcomes with respect to the preferences (or utilities) of those agents, where the outcomes in question might have been intended by none of the agents. The meaning of this statement will not be clear to the non-expert until each of the italicized words and phrases has been explained and featured in some examples. Doing this will be the...

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News source: Stanford Encyclopedia of Philosophy

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