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# Game Theory See Clearly
- URL: https://www.theunredacted.co/game-theory/
- Published: 2021-08-06T14:54:57.000Z
- Updated: 2021-08-06T14:54:57.000Z
- Author: Gene Goodwin

[Game theory - Wikipedia![](https://en.wikipedia.org/static/apple-touch/wikipedia.png)Wikimedia Foundation, Inc.Contributors to Wikimedia projects![](https://upload.wikimedia.org/wikipedia/commons/d/de/Complex_systems_organizational_map.jpg)](https://en.wikipedia.org/wiki/Game%5Ftheory?ref=theunredacted.co)

**Game theory** is the study of [mathematical models](https://en.wikipedia.org/wiki/Mathematical%5Fmodel?ref=theunredacted.co) of strategic interaction among [rational decision-makers](https://en.wikipedia.org/wiki/Rational%5Fagent?ref=theunredacted.co).[\[1\]](https://en.wikipedia.org/wiki/Game%5Ftheory?ref=theunredacted.co#cite%5Fnote-Myerson-1) It has applications in all fields of [social science](https://en.wikipedia.org/wiki/Social%5Fscience?ref=theunredacted.co), as well as in [logic](https://en.wikipedia.org/wiki/Logic?ref=theunredacted.co), [systems science](https://en.wikipedia.org/wiki/Systems%5Fscience?ref=theunredacted.co) and [computer science](https://en.wikipedia.org/wiki/Computer%5Fscience?ref=theunredacted.co). Originally, it addressed [zero-sum games](https://en.wikipedia.org/wiki/Zero-sum%5Fgame?ref=theunredacted.co), in which each participant's gains or losses are exactly balanced by those of the other participants. In the 21st century, game theory applies to a wide range of behavioral relations, and is now an [umbrella term](https://en.wikipedia.org/wiki/Umbrella%5Fterm?ref=theunredacted.co) for the [science](https://en.wikipedia.org/wiki/Science?ref=theunredacted.co) of logical decision making in humans, animals, and computers.

Modern game theory began with the idea of mixed-strategy equilibria in two-person zero-sum games and its proof by [John von Neumann](https://en.wikipedia.org/wiki/John%5Fvon%5FNeumann?ref=theunredacted.co). Von Neumann's original proof used the [Brouwer fixed-point theorem](https://en.wikipedia.org/wiki/Brouwer%5Ffixed-point%5Ftheorem?ref=theunredacted.co) on continuous mappings into compact [convex sets](https://en.wikipedia.org/wiki/Convex%5Fset?ref=theunredacted.co), which became a standard method in game theory and [mathematical economics](https://en.wikipedia.org/wiki/Mathematical%5Feconomics?ref=theunredacted.co). His paper was followed by the 1944 book *[Theory of Games and Economic Behavior](https://en.wikipedia.org/wiki/Theory%5Fof%5FGames%5Fand%5FEconomic%5FBehavior?ref=theunredacted.co)*, co-written with [Oskar Morgenstern](https://en.wikipedia.org/wiki/Oskar%5FMorgenstern?ref=theunredacted.co), which considered [cooperative games](https://en.wikipedia.org/wiki/Cooperative%5Fgame%5Ftheory?ref=theunredacted.co) of several players. The second edition of this book provided an axiomatic theory of expected utility, which allowed mathematical statisticians and economists to treat decision-making under uncertainty.

Game theory was developed extensively in the 1950s by many scholars. It was explicitly applied to [evolution](https://en.wikipedia.org/wiki/Evolution?ref=theunredacted.co) in the 1970s, although similar developments go back at least as far as the 1930s. Game theory has been widely recognized as an important tool in many fields. As of 2014, with the [Nobel Memorial Prize in Economic Sciences](https://en.wikipedia.org/wiki/Nobel%5FMemorial%5FPrize%5Fin%5FEconomic%5FSciences?ref=theunredacted.co) going to game theorist [Jean Tirole](https://en.wikipedia.org/wiki/Jean%5FTirole?ref=theunredacted.co), eleven game theorists have won the economics Nobel Prize. [John Maynard Smith](https://en.wikipedia.org/wiki/John%5FMaynard%5FSmith?ref=theunredacted.co) was awarded the [Crafoord Prize](https://en.wikipedia.org/wiki/Crafoord%5FPrize?ref=theunredacted.co) for his application of [evolutionary game theory](https://en.wikipedia.org/wiki/Evolutionary%5Fgame%5Ftheory?ref=theunredacted.co).

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