Game theory deals with mathematical models of situations involving conflict, cooperation and competition. Such situations are central in the social and behavioural sciences. Game Theory is a framework for making rational decisions in many fields: economics, political science, psychology, computer science and biology. It is also used in industry, for decisions on manufacturing, distribution, consumption, pricing, salaries, etc.

Theory of Games and Economic Behavior.
Centre: John von Neumann. Right: Oskar Morgenstern.
During the Cold War, Game Theory was the basis for many decisions concerning nuclear strategy that affected the well-being of the entire human race.
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