The Basics of Game Theory And Associated Games
Game theory is a fascinating field that has been around since the 1920s and has applications in many areas and can be seen in action every day. In essence game theory is about making decisions when the fortunes of participants are interlinked. It can be applied to a range of diverse fields including economics, politics, diplomacy, law, psychology and biology. When the 2001 movie A Beautiful Mind was made, starring Russell Crowe as the economist and game theorist, John Nash, it introduced game theory to laypeople. However, many of us have used game theory in our every day lives without necessarily knowing it.