Game Theory
Game theory is the study of mathematical models of strategic interaction among rational decision-makers. It is applied in logic, systems science, computer science, social science, business, and many other areas.
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Modern game theory is basically an umbrella term, but in the early stages of development it was constrained to zero-sum games, where the gains or losses of participants are exactly balanced.
John Von Neumann founded the field of game theory as a mathematical discipline.
His 1928 minimax theorem established that in perfect-information zero-sum games, there is strategies for both players that allows each to minimize maximum losses. To identify the optimal strategy, all possible responses of the adversary must be considered.
“If people do not believe that mathematics is simple, it is only because they do not realize how complicated life is.”
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