# Game Theory
Game theory is the study of mathematical models of strategic interaction among rational decisionmakers. It has applications in all fields of social science, as well as in logic, systems science and computer science. Originally, it addressed zerosum games, in which each participant's gains or losses are exactly balanced by those of the other participants. Today, game theory applies to a wide range of behavioral relations, and is now an umbrella term for the science of logical decision making in humans, animals, and computers.
Modern game theory began with the idea of mixedstrategy equilibria in twoperson zerosum games and its proof by John von Neumann. Von Neumann's original proof used the Brouwer fixedpoint theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathematical economics. His paper was followed by the 1944 book Theory of Games and Economic Behavior, cowritten with Oskar Morgenstern, which considered cooperative games of several players. The second edition of this book provided an axiomatic theory of expected utility, which allowed mathematical statisticians and economists to treat decisionmaking under uncertainty.
Game theory was developed extensively in the 1950s by many scholars. It was explicitly applied to biology in the 1970s, although similar developments go back at least as far as the 1930s. Game theory has been widely recognized as an important tool in many fields. As of 2014, with the Nobel Memorial Prize in Economic Sciences going to game theorist Jean Tirole, eleven game theorists have won the economics Nobel Prize. John Maynard Smith was awarded the Crafoord Prize for his application of game theory to biology.
 By Joshua Gans

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