Game Theory

What is Game Theory? Description
Game Theory is a special branch of mathematics which has been developed for studying decision-making in complexed circumstances. The idea to see business is usual in modern strategic thinking. The meaning of "Game" here is: a move by one player will result in moves by others. The idea historically dates back to the Talmud and Sun Tzu's writings. However, the contemporary codification is attributed to John von Neumann and Oskar Morgenstern. They published the Theory of Games and Economic Behavior in 1944. In the early 1950s, John Nash generalized these resul…