General and Applied Uses
As a method of applied mathematics, game theory has been used to study a wide variety of human and animal behaviors. It was initially developed in economics to understand a large collection of economic behaviors, including behaviors of firms, markets, and consumers. The use of game theory in the social sciences has expanded, and game theory has been applied to political, sociological, and psychological behaviors as well.
Game-theoretic analysis was initially used to study animal behavior by Ronald Fisher in the 1930s (although even Charles Darwin makes a few informal game-theoretic statements). This work predates the name "game theory", but it shares many important features with this field. The developments in economics were later applied to biology largely by John Maynard Smith in his book Evolution and the Theory of Games.
In addition to being used to describe, predict, and explain behavior, game theory has also been used to develop theories of ethical or normative behavior and to prescribe such behavior. In economics and philosophy, scholars have applied game theory to help in the understanding of good or proper behavior. Game-theoretic arguments of this type can be found as far back as Plato.
Read more about this topic: Game Theory
Famous quotes containing the words general and/or applied:
“As a general rule, do not kick the shins of the opposite gentleman under the table, if personally unaquainted with him; your pleasantry is liable to be misunderstood—a circumstance at all times unpleasant.”
—Lewis Carroll [Charles Lutwidge Dodgson] (1832–1898)
“That a good fit between parental handling and child temperament is vital to help children adapt to the imperatives of their society is a crucial concept that can be applied to other cultures.”
—Stella Chess (20th century)