Difference between revisions of "Game theory"
Jump to navigation
Jump to search
m (Game Theory moved to Game theory: Conform to MoS) |
|
(No difference)
| |
Revision as of 10:48, September 23, 2008
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. 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.