Game theory is a mathematical approach to studying strategic interactions between rational decision-makers. Developed in the early 20th century by mathematicians such as John von Neumann and John Nash, it analyses how individuals or entities make choices to maximise their outcomes in competitive or cooperative scenarios. The field encompasses multiple disciplines, including economics, biology, computer science and political science[1]. Key concepts include Nash equilibrium, evolutionary strategies and various types of games, such as zero-sum and simultaneous games. Researchers apply game theory to understand complex interactions in diverse areas such as market competition, animal behaviour, artificial intelligence and international relations. Its mathematical framework helps predict and explain strategic behaviour by examining how players' decisions interconnect and influence each other's potential gains, making it a crucial tool for understanding decision-making processes in complex systems.
Note: "Game Theory" redirects to this article. For other meanings, see Game Theory (disambiguation).Game theory or Game theory is a branch of applied maths which studies strategic situations where players choose different actions in an attempt to improve their return. Initially developed as a tool for understanding behaviour economic and then used by RAND Corporation to define core strategiesToday, game theory is used in various academic fields. Since 1970, game theory has been applied to the study of animal behaviour, including the evolution of species by natural selection. Because of the interest in games like prisoner's dilemma Iterated, in which the impotence of two rational players to choose something that benefits both of them without prior agreement is shown, game theory has been applied to the political science, military sciences, ethics, economy, philosophy and recently in journalismThis is an area that features numerous and diverse games, both competitive and co-operative. Finally, game theory has attracted the attention of computer science which has been using it to advance artificial intelligence e cybernetics.
Game theory has become a prominent branch of science. maths in the 1930s, especially after the publication in 1944 of The Theory of Games and Economic Behaviour of John von Neumann e Oskar Morgenstern. Game theory distinguishes itself in economy as it seeks to find rational strategies in situations where the outcome depends not only on an agent's own strategy and market conditions, but also on the strategies chosen by other agents who may have different strategies but common objectives.
The results of game theory can be applied both to simple entertainment games and to significant aspects of life in society. An example of the latter type of application is Prisoner's dilemma (this game was first analysed in the year 1953) popularised by the mathematician Albert W. TuckerIt has many implications for the study of co-operation between individuals. Biologists use game theory to understand and predict the outcome of the evolution of certain species. This application of game theory to the theory of evolution has produced such important concepts as the concept of Evolutionarily Stable Strategyintroduced by the biologist John Maynard Smith in your essay Game Theory and the Evolution of Fighting.
In economics, game theory has been used, according to Joseph Lampel, to examine competition and co-operation within various markets, from small groups of companies to international relations. From there, it was only a short step to strategy. Strategy management researchers have sought to take advantage of game theory, as it provides valuable criteria when dealing with situations that allow for simple questions, not providing positive or negative answers, but helping to systematically examine various permutations and combinations of conditions that can alter the situation. Real-life strategic issues give rise to a huge number of variations, making it impossible to exhaustively deal with all the possibilities. So the aim is not to solve strategic questions, but to help order strategic thinking - by providing a set of concepts for understanding dynamic manoeuvres against competitors.
In addition to academic interest, game theory has been receiving attention in popular culture. A game theory researcher and winner of the Prize for Economic Sciences in Memory of Alfred Nobel, John Nashwas the subject of a biography in 1998 by Sylvia Nasar and a film in 2001 A brilliant mind. Game theory was also the subject of the 1983 film War Games.
Although similar to decision theoryGame theory studies decisions that are made in an environment where several players interact. In other words, game theory studies the choices of optimal behaviour when the cost and benefit of each option is not fixed, but depends above all on the choice of other individuals.
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