Which theory studies strategic interactions between individuals or organizations?
کون سا نظریہ افراد یا تنظیموں کے درمیان حکمتِ عملی پر مبنی باہمی تعاملات کا مطالعہ کرتا ہے؟
- Game Theory
- Public Choice Theory
- Decision Theory
- Classical Theory
Explanation
- Game theory is the study of mathematical models of strategic interactions.
- Players act rationally to maximize their payoff
- Founders
- John von Neumann & Oskar Morgenstern — established game theory (1944)
- John Nash — Nash equilibrium (1950)
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