Splay trees are a type of self-adjusting binary search tree that reorganizes itself every time an element is accessed, promoting recently accessed elements to the root. This dynamic structure optimizes access times for frequently accessed elements by performing a series of tree rotations called splaying. The amortized time complexity for basic operations like insertion, deletion, and lookup is O(log n), making splay trees efficient for sequences of operations where certain elements are accessed more often than others.
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