[Home]History of Game theory

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Revision 16 . . December 15, 2001 12:08 am by Jhanley
Revision 15 . . (edit) November 1, 2001 1:02 am by Zundark [minor format fix]
  

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Though touched on by earlier mathematical results, modern game theory became a prominent branch of mathematics in the 1940s, especially after the 1944 publication of The Theory of Games and Economic Behavior by John von Neumann and [Oskar Morgenstern]?. Game theory differs from the related field of economics in that it seeks to find rational strategies in situations where the outcome depends not only on one's own strategy and "market conditions", but upon the strategies chosen by other players with possibly different or overlapping goals.
Game theory is a method for exploring the predicted and actual behavior of individuals in interactions with formalized incentive structures. Seemingly different types of interactions can be characterized as having similar incentive structures, thus being examples of a particular "game."

Though touched on by earlier mathematical results, modern game theory became a prominent branch of mathematics in the 1940s, especially after the 1944 publication of The Theory of Games and Economic Behavior by John von Neumann and [Oskar Morgenstern]?. Game theory differs from the related field of economics in that it seeks to find rational strategies in situations where the outcome depends not only on one's own strategy and "market conditions", but upon the strategies chosen by other players with possibly different or overlapping goals. For this reason, it is also commonly used in political science.

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