I have accrossed in my textbook the word " Game theory " one of the important area in mathematics , Really am confused why we should studying it ? and what is its importance in our life ?
Dear Rafic,
Globally speaking, game theory is a theory based on in idea of costs and gains in social and countries exchanges. It is often the case that people and countries calculate their costs and again in their social interactions. In these interactions people and countries try to maximize their gains and minimiaze their costs. Of course this is a short answer to your guestion.
Kind regards,
Orlando
Game theory is the study of mathematical models of strategic interaction between rational decision-makers. It has applications in all fields of social science, as well as in logic and computer science.
I would like to suggest the following papers:
1-https://www.investopedia.com/terms/g/gametheory.asp
2-www.dklevine.com/general/whatis.htm
3- https://en.wikipedia.org/wiki/Game_theory
Game theory is about strategic interactions to understand different behaviors. It is widely used across economics and decision-making models to analyze a set of decisions from different agents or players.
You can have a look at this short paper from Matthew Jackson, explaining the fundamentlas of game theory. Besides, you can take his course from coursera which is free if you don’t want a certification. Link to the course: https://www.coursera.org/learn/game-theory-1
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