Difference between revisions of "Game theory"
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'''Game theory''' is a mathematical theory in [[economics]] that studies situations in which players choose different actions in an attempt to maximise their profits. It Provides a formal approach to the study of strategies 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. | '''Game theory''' is a mathematical theory in [[economics]] that studies situations in which players choose different actions in an attempt to maximise their profits. It Provides a formal approach to the study of strategies 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. | ||
| − | 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 | + | 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]] | ||
Revision as of 20:45, April 3, 2007
Game theory is a mathematical theory in economics that studies situations in which players choose different actions in an attempt to maximise their profits. It Provides a formal approach to the study of strategies 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.
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.