Difference between revisions of "Game theory"
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| − | '''Game theory''' is a | + | '''Game theory''' is a branch of mathematics, most commonly applied in [[economics]], that studies situations in which players' outcomes are determined by their own choices as well as the choices of other players. It provides a formal approach to the study of strategic behavior and extends the simpler optimisation approach developed in neoclassical economics. Game theory can be viewed as a branch of [[decision theory]] in which players of the game interact with each other. A common example of game theory is the [[prisoner's dilemma]]. |
Game theory was developed in 1944, by [[John von Neumann]] and [[Oskar Morgenstern]], and was popularised in the 2001 film ''A Beautiful Mind'', staring [[Russell Crowe]] as mathematician [[John Forbes Nash]]. | Game theory was developed in 1944, by [[John von Neumann]] and [[Oskar Morgenstern]], and was popularised in the 2001 film ''A Beautiful Mind'', staring [[Russell Crowe]] as mathematician [[John Forbes Nash]]. | ||
[[Category:Mathematics]] | [[Category:Mathematics]] | ||
[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 13:45, August 6, 2010
Game theory is a branch of mathematics, most commonly applied in economics, that studies situations in which players' outcomes are determined by their own choices as well as the choices of other players. It provides a formal approach to the study of strategic behavior and extends the simpler optimisation approach developed in neoclassical economics. Game theory can be viewed as a branch of decision theory in which players of the game interact with each other. A common example of game theory is the prisoner's dilemma.
Game theory was developed in 1944, by John von Neumann and Oskar Morgenstern, and was popularised in the 2001 film A Beautiful Mind, staring Russell Crowe as mathematician John Forbes Nash.