"A Comparison Between Game Theory and Decision Theory" by Catherine VonDemfange
 

Date of Award

6-1972

Degree Type

Master's Essay - Restricted

Degree Name

Master of Science (MS)

Department

Mathematical and Statistical Sciences

Abstract

The purpose of this essay is to make a comparison between decision theory and game theory, to point out their similarities and differences in the areas of basic definitions and functions, method, and subject matter. The similarities are due to the fact that the nature and purpose of the two subjects are basically the same. There are two fundamental differences that account for many of the differences in the three areas mentioned above. The most obvious of these two fundamental differences is the fact that in game theory there are two or more rational opponents, whereas in decision theory there is only one rational opponent. The other opponent, nature, obviously cannot think and will not be trying to gain as much as it can.

Comments

An essay submitted to the faculty of the Graduate School, Marquette University, in partial fulfillment of the requirement for the degree of Master of Science, Milwaukee, Wisconsin.

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