Knowledge in game theory vital for students

Game theory in Mathematics applies to a wide range of behavioural relations and gaining knowledge in it helps individuals in strategic decision making at critical junctures, said P Raghu, senior faculty, statistics department, JKC College, Guntur.

Speaking at a seminar on `Game Theory’ organised by the Department of Mathematics of Kakaraparti Bhavanarayana (KBN) College on Tuesday, Raghu said, “Game theory is the study of mathematical models of conflict and cooperation between intelligent rational decision-makers. Game theory is mainly used in economics, political science, psychology, logic, computer science, biology and other subjects. Students should analyse the latest techniques being adopted by mathematicians across the globe to achieve higher living standards.’’

Mathematics Department head M Venkateswara Rao, faculty members Naveen Kumar, SVNS Suresh Kumar, Bala Prasanna and Lakshmi Sravani were present.