![]() It has nothing to do with solitaire, in which your ‘opponent’ – a deck of cards – has no strategy. Game theory does not cover all games, but only those in which an opponent’s or negotiator’s strategy affects your next move. And the stakes are high: the outcome of negotiations between parents and their children can affect a family’s happiness and the children’s futures.ĭespite its sometimes complicated mathematics, game theory is simple to explain: it’s the science of strategic thinking. Children can be tough negotiators, as parents know. ![]() ![]() ![]() Game theory can also be a useful tool for parents. It’s used by diplomats, biologists, psychologists, economists and many others in business, research and global politics. ![]() Written with a colleague, Oskar Morgenstern, this volume of nearly biblical proportions is so dense and littered with mathematics that only a game-theory specialist could understand it – and some of them struggled.Įven so, game theory has spread far beyond the boundaries of mathematics to become a valuable tool for explaining human behaviour. In 1944, the economist, physicist, mathematician and computer scientist John von Neumann published a book that became a sensation, at least among mathematicians – Theory of Games and Economic Behavior. ![]()
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