Practical Usefulness and Relevance of Game Theory
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(1500 words)
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However, it must be noted that game theory is based on too many assumptions, and this weakness reduces the usefulness of this mathematical model to some extent.... Relevance and usefulness While scrutinising the game theory, it is clear that this mathematical model is beneficial to understand less known aspects appearing during the times of conflicting interests.... This essay "Practical usefulness and Relevance of Game Theory" discusses the game theory that is extremely relevant in modern days, and its usefulness is extended to areas such as politics, economics, business, philosophy, computer science, logic, biology, and sociology....