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A Couple of Words on Game Theory

2023-10-24 |    0

Math is like a secret code to understanding the world. Sometimes, it seems tricky, and some people think it's not very useful, but it's pretty awesome. You can use math to figure out how things work, like in economics, biology, chemistry, or physics. It's like making a map of a system and predicting what will happen.

Math isn't just for understanding stuff. It also helps your brain grow and makes you better at thinking creatively and intelligently.

Now, let's talk about an incredible part of math called game theory. It's like a guide for picking the best moves when your success depends on your actions. This isn't just about board games or cards; it's also for real-life situations, like making sound business choices or even when dealing with people.

Game theory sorts games into categories. Some games, like chess, give you all the information you need to make decisions. Others, like poker, keep some info hidden. In some games, players take turns (dynamic games), like chess, while in others, everyone picks at the same time (static games), like "Rock, Paper, Scissors."

In games, there's something called a "price." Games can have good prices (you win something) or bad prices (you lose something). It's usually better to play games with good prices, but sometimes you want to lose as little as possible.

When two people play against each other, it can be like a fight, where one person's gain is the other's loss. But in games with "nature," there's no enemy trying to beat you. It's more like a challenge.

Not all games with two people are fights, though. Some folks can help each other win in games with more players. We call those "coalition games."

Knowing what kind of game you're in helps you make intelligent choices. And it's always a good idea to think about what you'll win or lose when you're playing any game, even if it's just talking to people.


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