Game theory

: This article discusses the mathematical modelling of incentive structures. For other games (and their theories) see Game (disambiguation). For the band named Game Theory, please see Game Theory (band).

Overview of history and applications

John von Neumann and Oskar Morgenstern first formalised the subject in 1944 in their book Theory of Games and Economic Behavior. Game theory has important applications in fields like operations research, economics, collective action, political science, psychology, and biology. It has close links with economics in that it seeks to find rational strategies in situations where the outcome depends not only on one's own strategy and "market conditions", but upon the strategies chosen by other players with possibly different or overlapping goals. Applications in military strategy drove some of the early development of game theory.

Related Topics:
John von Neumann - Oskar Morgenstern - Theory of Games and Economic Behavior - Operations research - Economics - Collective action - Political science - Psychology - Biology - Military strategy

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Game theory has come to play an increasingly important role in logic and in computer science. Several logical theories have a basis in game semantics. In addition, computer scientists have used games to model interactive computations. Computability logic attempts to develop a comprehensive formal theory (logic) of interactive computational tasks and resources, formalising these entities as games between a computing agent and its environment.

Related Topics:
Logic - Computer science - Game semantics - Interactive computation - Computability logic

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Game theoretic analysis can apply to simple games of entertainment or to more significant aspects of life and society. The prisoner's dilemma, as popularized by mathematician Albert W. Tucker, furnishes an example of the application of game theory to real life; it has many implications for the nature of human co-operation, and has even been used as the basis of a game show called Friend or Foe?.

Related Topics:
Prisoner's dilemma - Albert W. Tucker - Real life - Co-operation - Game show - Friend or Foe?

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Biologists have used game theory to understand and predict certain outcomes of evolution, such as the concept of evolutionarily stable strategy introduced by John Maynard Smith and George R. Price in a 1973 paper in Nature (see also Maynard Smith 1982). See also evolutionary game theory and behavioral ecology.

Related Topics:
Biologist - Evolution - Evolutionarily stable strategy - John Maynard Smith - George R. Price - Nature - Evolutionary game theory - Behavioral ecology

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Analysts of games commonly use other branches of mathematics, in particular probability, statistics and linear programming, in conjunction with game theory.

Related Topics:
Probability - Statistics - Linear programming

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