The Game Theory???

Question

Can anyone explain in detail what the game theory is? (preferably in layman's terms?) Also, do you know any good websites (NOT WIKIPEDIA) or good books I can look at? I already have "Thinking Strategically" by A. Dixit, but I need something a little more basic.

Answer 1

There is no "THE" game theory.  Game theory, in general, is a branch of mathematics that deals with strategy, probability and logic.  It is a very large field of study and has huge applications in computer science, economics, business, and warfare.

If you want a good resource to learn more, I'd recommend this one:

http://www.cut-the-knot.org/index.shtml

While not specifically about game theory, they cover many game theory topics with Java based demonstrations and games.  Very informative and very fun.

Answer 2

To me, game theory is a methodology which codifies the process of predicting the rational choices that people tend to make, given a specific set of conditions, and then making our reactive choices based on those deduced propensities.