Understanding Game Theory: Strategies, Applications, and Implications in Decision-Making

Introduction

This report explores the fundamental principles of game theory, a mathematical framework for analyzing strategic interactions among rational decision-makers. The purpose of this report is to elucidate the strategies employed within game theory, examine its diverse applications across various fields, and assess the implications of these strategies on decision-making processes. By delving into the mechanics of game theory, we aim to provide a clearer understanding of how