Non-Cooperative Game Theory
Non-Cooperative Game Theory is a branch of game theory that studies strategic interactions where players make decisions independently, often in competition with one another. In this framework, each player aims to maximize their own payoff without collaboration, leading to various outcomes based on their strategies.
Key concepts in non-cooperative game theory include Nash Equilibrium, where players reach a stable state where no one can benefit by changing their strategy unilaterally, and dominant strategies, where one strategy is better for a player regardless of what others do. This theory is widely applied in economics, political science, and biology.