game theory

a branch of mathematics concerned with the analysis of the behavior of decision makers (called players) whose choices affect one another. Game theory is often used in both theoretical modeling and empirical studies of conflict, cooperation, and competition, and it has helped structure interactive decision-making situations in numerous disciplines, including economics, political science, organizational and social psychology, and ethics. A simple game theory example is a scenario from a reality television show in which the final two players are each asked privately to make a decision to share or keep the entire game prize. The players are told that the outcome will be decided by the following rules: (a) If one player decides to keep the entire prize and the other decides to share, then the first player gets the entire prize; (b) if both players decide to share the prize, then the prize is split; and (c) if both players decide to keep the entire prize, then both leave empty-handed. The players must therefore base their decisions on what they think the other will choose to do.

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Psychology term of the day

September 1st 2024

dyslexia

n. a neurologically based learning disability manifested as severe difficulties in reading, spelling, and writing words and sometimes in arithmetic. Dyslexia is characterized by impairment in the ability to process sounds, that is, to make connections between written letters and their sounds; written work is often characterized by reversal errors. It can be either acquired (in which case it is often referred to as alexia) or developmental (see developmental dyslexia), is independent of intellectual ability, and is unrelated to disorders of speech and vision that may also be present. It is not the result of lack of motivation, sensory impairment, inadequate instructional or environmental opportunities, emotional disturbances, or other such factors. Since the 1960s, information-processing and other psychological accounts of acquired dyslexia have prompted investigators to subdivide it into two general classes: (a) visual word-form dyslexia, which is characterized by difficulty in the visual analysis of written words; and (b) central dyslexia, which is characterized by difficulty in later stages of the reading process (i.e., pronunciation and comprehension). Various types and subtypes of dyslexia, both acquired and developmental, have also been proposed, but there is no universally accepted system of classification. See also reading disability; reading disorder. —dyslexic adj.