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  1. Game theory - Von Neumann, Morgenstern, Theory | Britannica

    Nov 21, 2025 · Game theory is being used increasingly in political science to study strategy in areas as diverse as campaigns and elections, defense policy, and international relations.

  2. Game theory - Strategies, Equilibrium, Payoffs | Britannica

    Oct 31, 2025 · Game theory does not attempt to state what a player’s goal should be; instead, it shows how a player can best achieve his goal, whatever that goal is. Von Neumann and Morgenstern …

  3. The Theory of Games and Economic Behavior - Encyclopedia Britannica

    Game theory focuses on the element of bluffing, a feature distinct from the pure logic of chess or the probability theory of roulette. Though von Neumann knew of the earlier work of the French …

  4. von Neumann–Morgenstern utility function - Britannica

    Organizational decision making is the product of the game rather than a rational, goal-oriented process. Individual decision making is rational in the narrow sense that individuals pursue individual, self …

  5. Game theory - Strategies, Payoffs, Equilibrium | Britannica

    Nov 21, 2025 · One well-known cooperative solution to two-person variable-sum games was proposed by the American mathematician John F. Nash, who received the Nobel Prize for Economics in 1994 …

  6. John Venn | Biography, Diagram, & Facts | Britannica

    The diagrams that bear his name were introduced by Venn as a means of depicting relations of inclusion and exclusion between classes, or sets. They consist of two or three intersecting circles, each …

  7. Rational choice theory | Definition, Examples, & Facts - Britannica Money

    As its name suggests, game theory represents a formal study of social institutions with set rules that relate agents’ actions to outcomes. Such institutions may be thought of as resembling the parlour …

  8. Chess - Development of theory | Britannica

    Nov 7, 2025 · Chess theory consists of opening knowledge, tactics (or combinations), positional analysis (particularly pawn structures), strategy (the making of long-range plans and goals), and endgame …

  9. Venn diagram | Logic, Mathematics & Visualization | Britannica

    Nov 28, 2025 · Venn diagram, graphical method of representing categorical propositions and testing the validity of categorical syllogisms, devised by the English logician and philosopher John Venn …

  10. Electric circuit | Diagrams & Examples | Britannica

    Nov 11, 2025 · circuit with voltmeter Diagram showing a voltmeter connected to a simple circuit. The network of transistors, transformers, capacitors, connecting wires, and other electronic components …