Make Your Own List. Game theory is marketed as a system you can apply to any sphere of life, but does it really have much to offer in terms of practical application? The distinguished game theorist, Ariel Rubinstein , suggests not. He recommends the best books on game theory. Interview by Sophie Roell. These are situations when my reasonable behaviour depends on the way that I perceive or believe that the other participants in the situation will behave. I want to get into the shoes of the other player or players — I want to enter their mind.
In the real world, agents or entities are in a continuous state of interactions. These interactions lead to various types of complexity dynamics. One key difficulty in the study of complex agent interactions is the difficulty of modeling agent communication on the basis of rewards. Game theory offers a perspective of analysis and modeling these interactions. Previously, while a large amount of literature is available on game theory, most of it is from specific domains and does not cater for the concepts from an agent-based perspective.
What is Game Theory and define its relevance to sustainability? Illustrate youranswer with examples. Delivering a high-quality product at a reasonable price is not enough anymore.