Chapter 4
Game Theory and Cryptoeconomics
4.1 What Is Game Theory?
Game theory is an analysis toolkit which is designed to help us to understand the observed phenomena of interactions between decision-making bodies. Basic assumption implied by this theory is that decision-makers pursue determined external goals (they are rational) and consider their own knowledge or the expectations of other decision-making actors (their reasoning is strategic).
Game theory has a long history, for example, “The Art of War” in ancient China. At the very beginning, game theory was researching questions of losing and winning in playing chess, bridge, gambling, it was mainly based on practical experience, it wasn’t developing theoretically, so officially, ...
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