Initially, the game theory was developed by John Von Neumann and Oskar Morgenstern in 1944.
Game theory has been applied in many fields, such as economics, politics, and biology.
Game theory discusses the strategies and decisions taken by each player in a game.
In the theory of games, there is the concept of Nash equilibrium that explains the situation where each player has chosen the best strategy for himself.
Game theory can also be used to analyze the behavior of consumer and producers in the market.
In poker games, game theory can be used to estimate the chances of winning from each player based on the card he has.
Game theory can also be used to analyze political decisions, such as presidential elections or public policy.
In the theory of games, there is a zero-sum game game which means that if one player wins, then another player will lose.
Game theory can also be used to analyze relations between countries in international relations.
In the theory of games, there is the concept of Prisoners Dilemma that describes the situation in which two people who do not know each other must decide whether to work together or not.
