| 单词 | game theory |
| 释义 | game theory game theory A mathematical theory, developed by J. von Neumann (1903–57) and O. Morgenstern (1902–77) in 1944, concerned with predicting the outcome of games of strategy (rather than games of chance) in which the participants have incomplete information about the others’ intentions. Under perfect competition there is no scope for game theory, as individual actions are assumed not to influence others significantly; under oligopoly, however, this is not the case. Game theory has been increasingly applied to economics and the theory of industrial organizations. The theory was further elucidated by the economists John Nash, John Harsanyi, and Reinhard Selten (1930–2016), who received the Nobel Prize for Economics in 1994. |
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