What is game theory?
— Game theory is a mathematical theory that analyzes how people interact in strategic decision-making situations under conditions of uncertainty over time.
Can competitive interactions have opportunities for cooperation?
— Yes, game theory has revealed that interactions previously thought to be zero-sum or competitive can actually have opportunities for mutual cooperation.
How did Reagan and Gorbachev negotiate the START Treaty?
— Reagan and Gorbachev negotiated the START Treaty by breaking up the interaction into a series of small steps, verifying each step before moving on.
How can game theory help transform a situation with a winner and a loser?
— Making decisions based on game theory can help transform a situation with a winner and a loser into one where everyone benefits.
What is the minimax strategy?
— The minimax strategy minimizes maximum loss and ensures the best possible outcome in zero-sum games.
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