Game Theory: The Science of Decision-Making

The video introduces game theory, a mathematical framework for analyzing social interactions. It covers both competitive and cooperative game theory, explaining key concepts like the Prisoner's Dilemma and Nash equilibrium. The video also delves into the Shapley value, a method for fairly dividing resources in cooperative games, using examples to illustrate its application.

What are the axioms of the Shapley value in cooperative game theory?

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How can the Shapley value be applied to real-life situations?

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Discuss how game theory can inform decision-making in competitive situations.

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