A set is a collection of well defined and distinct objects, considered as an object in its own right. Sets are one of the most fundamental concepts in mathematics. Developed at the end of the 19th century, set theory is now a ubiquitous part of mathematics, and can be used as a foundation from which nearly all of mathematics can be derived.
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Shapley value
In game theory, the Shapley value, named in honour of Lloyd Shapley, who introduced it in 1953, is a solution concept in cooperative game theory. To each cooperative game it assigns a unique distribution (among the players) of a total surplus generated by the coalition of all players. The Shapley value is characterized by a collection of desirable properties or axioms described below. Hart (1989) provides a survey of the subject.
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Core (game theory)
In game theory, the core is the set of feasible allocations that cannot be improved upon by a subset (a coalition) of the economy's consumers.
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Mathematical model
A mathematical model is a description of a system using mathematical concepts and language. The process of developing a mathematical model is termed mathematical modelling. Mathematical models are used not only in the natural sciences and engineering disciplines, but also in the social sciences; physicists, engineers, statisticians, operations research analysts and economists use mathematical models most extensively.
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Game
A game is structured playing, usually undertaken for enjoyment and sometimes used as an educational tool. Games are distinct from work, which is usually carried out for remuneration, and from art, which is more often an expression of aesthetic or ideological elements.
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Subset
In mathematics, especially in set theory, a set A is a subset of a set B, or equivalently B is a superset of A, if A is "contained" inside B. A and B may coincide. The relationship of one set being a subset of another is called inclusion or sometimes containment.
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Computational complexity theory
Computational complexity theory is a branch of the theory of computation in theoretical computer science and mathematics that focuses on classifying computational problems according to their inherent difficulty, and relating those classes to each other. In this context, a computational problem is understood to be a task that is in principle amenable to being solved by a computer (which basically means that the problem can be stated by a set of mathematical instructions).
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Cooperation
Cooperation or co-operation is the process of working or acting together. In its simplest form it involves things working in harmony, side by side, while in its more complicated forms, it can involve something as complex as the inner workings of a human being or even the social patterns of a nation. It is the alternative to working separately in competition. Cooperation can also be accomplished by computers, which can handle shared resources simultaneously, while sharing processor time.
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