Game theory develops general mathematical formulas and algorithms to identify optimal strategies and to predict the outcome of interactions. Game theory studies strategic interaction in competitive and cooperative environments.
Game Theory is the science of strategy and attempts to determine what actions different players such as trading partners, employers, unions or even organised crime groups should take to secure the best outcome for themselves.
Game theory has already revolutionized economics, and is spreading to a variety of fields including conflict and war. Oskar Morgenstern and mathematician John von Neumann also contributed to game theory.
Nobel laureates John Nash, Robert Aumann and Thomas Schelling have done pioneering work in the field of game theory. The 2005 Nobel prize for economics was given to Thomas Schelling and Robert Aumann for their work on "game theory."
"I think game theory creates ideas that are important in solving and approaching conflict in general" - Robert Aumann.
On winning the Nobel prize Robert Aumann has said "This is a badge of honour for this branch of science, for game theory."
Thomas Schelling who has said "I'm not really a game theorist" has applied game theory to global security and the cold war arms race.
Game Theory Society - Founded in January 1999, the society aims to promote the investigation, teaching and application of game theory.
Books On Game Theory
Theory, Natural Selection, and Darwinian Dynamics - Thomas L. Vincent, Joel S.
Game Theory and Politics
- Steven J. Brams
Game Theory : A
Nontechnical Introduction - Morton D. Davis
Game Theory for Applied
Economists - Robert Gibbons
Game Theory: Analysis of Conflict - Roger B. Myerson
An Introduction to Game
Theory - Martin J. Osborne
A Course in Game Theory
- Martin J. Osborne, Ariel Rubinstein
Game Theory Evolving
- Herbert Gintis
The Survival Game : How Game Theory Explains the Biology of Cooperation and Competition - David P. Barash - Game theory attempts to explain the dynamics of life as a series of individual games, each involving specific moves that take place within a strictly delineated set of rules.
Game Theory at Work: How to Use Game Theory to Outthink and Outmaneuver Your Competition - James D. Miller
Classics in Game Theory
- Harold William Kuhn
Game Theory and the
Social Contract, Vol. 1: Playing Fair - Ken Binmore
Game Theory and the Law
- Douglas G. Baird, Robert H. Gertner, Randal C. Picker
Understanding Strategic Behaviour : Game Theory, Experiments and Bounded Rationality
- Steffen Huck
Handbook of Game theory - L. A. Petrosjan, V. V. Mazalov (Editors)
Models in Cooperative Game Theory : Crisp, Fuzzy, and Multi-Choice Games - Rodica Branzei, Dinko Dimitrov, Stef Tijs - This book investigates models in cooperative game theory in which the players have the possibility to cooperate partially.
Introducing Game Theory
and its Applications - Elliot Mendelson
Gaming the Market : Applying Game Theory to Create Winning Trading Strategies - Ronald B. Shelton - The first How game theory is applicable to decisions about buying and selling stocks, bonds, mutual funds, futures, and options.
Handbook of Game Theory
with Economic Applications - R. J. Aumann, S. Hart
Game Theory: A Critical
Text Book - Shaun P. Hargreaves Heap, Yanis Varoufakis
Game Theory and Economic Analysis (Routledge Advances in Game Theory) Book by Christian Schmidt (Editor)
A Game Theory Analysis of Options: Contributions to the Theory of Financial Intermediation in Continuous Time - Alexandre Ziegler
Game Theory And
Applications - L. A. Petrosjan (Editor), V. V. Mazalov (Editor)
Decision Making using
Game Theory : An Introduction for Managers - Anthony Kelly
Repeated Games with
Incomplete Information - Robert J. Aumann
Topics in Mathematical
Economics in Game Theory: Essays in Honor of Robert J. Aumann - Myrna H. Wooders
Game Theory for Political Scientists - James D. Morrow
Game Theory with Economic Applications - H. Scott Bierman, Luis Fernandez
Decision Analysis, Game
Theory, and Information - Louis Kaplow, Steven Shavell
Game Theory and Strategy
- Philip D. Straffin