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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. A common example of game theory is the [[prisoner's dilemma]].

'''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]]