Yale Video Course. Game Theory. First published Sat Jan 25, 1997; substantive revision Wed May 5, 2010 Game theory is the study of the ways in which strategic interactions among economic agents produce outcomes with respect to the preferences (or utilities) of those agents, where the outcomes in question might have been intended by none of the agents.
The meaning of this statement will not be clear to the non-expert until each of the italicized words and phrases has been explained and featured in some examples. Doing this will be the main business of this article. Game Theory. Game Theory 101: Game Theory Made Easy - StumbleUpon. Game theory. Game theory is the study of strategic decision making.
Specifically, it is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers. "[1] An alternative term suggested "as a more descriptive name for the discipline" is interactive decision theory.[2] Game theory is mainly used in economics, political science, and psychology, as well as logic, computer science, and biology.