Understanding Game Theory

The video tutorial discusses strategic interactions where individuals pursue their own interests. It introduces game theory as a mathematical framework to understand these interactions, initially developed for economic behavior analysis. The theory's applications have expanded to fields like biology, international relations, and interpersonal relationships, including friendship and family dynamics.

What is the primary focus of strategic interactions?

• Maximizing individual goals

• Minimizing conflicts

• Enhancing communication skills

• Achieving mutual understanding

What was the original purpose of developing game theory?

• To enhance biological studies

• To understand economic behavior

• To improve international relations

• To foster better family relations

Which of the following is NOT a field where game theory has been applied?

• Biology

• Astronomy

• Interpersonal relations

• International relations

How does game theory help in understanding interpersonal relations?

• By predicting future events

• By eliminating personal interests

• By offering solutions to all conflicts

• By providing a framework for strategic decision-making

Which of the following best describes game theory?

• A psychological study of human behavior

• A historical analysis of economic trends

• A theory focused on physical sciences

• A mathematical theory for strategic interactions