Game theory is the study of mathematical models of strategic interactions among rational decision-makers. It has applications in all fields of social science, as well as in logic, systems science and computer science.
Game theory was pioneered by John von Neumann and Oskar Morgenstern in their 1944 book "Theory of Games and Economic Behavior." The field was further developed in the 1950s by many scholars, most notably John Nash, who introduced the concept of the Nash equilibrium.
Game theory is now a widely used tool in many fields, including economics, political science, psychology, and biology. It is used to analyze a wide range of strategic situations, from business competition and international relations to animal behavior and the evolution of cooperation.