Video poker is generally perceived as a “beatable” casino game over the long run if expert strategy is used playing an optimum pay table.

Game theory is a branch of applied mathematics that studies strategic situations where players choose different actions in an attempt to maximize their returns. First developed as a tool for understanding economic behavior, game theory is now used in many diverse academic fields, ranging from biology to philosophy. Game theory saw substantial growth during the Cold War because of its application to military strategy, most notably to the concept of mutually assured destruction. Beginning in the 1970s, game theory has been applied to animal behavior, including species’ development by natural selection. Because of interesting games like the Prisoner’s dilemma, where mutual self-interest hurts everyone, game theory has been used in ethics and philosophy. Finally, game theory has recently drawn attention from computer scientists because of its use in artificial intelligence and cybernetics.

In addition to its academic interest, game theory has received attention in popular culture. An important figure in game theory, John Nash was the subject of the 2001 film A Beautiful Mind. Several game shows have adopted game theoretic situations, including Friend or Foe and Deal or No Deal. ^[1]

Although similar to decision theory, game theory studies decisions that are made in an environment where various players interact. In other words, game theory studies choice of optimal behavior when costs and benefits of each option are not fixed, but depend upon the choices of other individuals.

Notes

1. ^ GameTheory.net has an extensive list of references to game theory in popular culture.

References

Textbooks and general reference texts

• Gibbons, Robert (1992) Game Theory for Applied Economists, Princeton University Press ISBN 0691003955 (readable; suitable for advanced undergraduates. Published in Europe by Harvester Wheatsheaf (London) with the title A primer in game theory)
• Ginits, Herbert (2000) Game Theory Evolving Princeton University Press ISBN 0691009430
• Osborne, Martin and Ariel Rubinstein: A Course in Game Theory, MIT Press, 1994, ISBN 0-262-65040-1 (modern introduction at the introductory graduate level)
• Fudenberg, Drew and Jean Tirole: Game Theory, MIT Press, 1991, ISBN 0262061414 (the definitive reference text)

Historically important texts

• Fisher, Ronald (1930) The Genetical Theory of Natural Selection Clarendon Press, Oxford.
• Luce, Duncan and Howard Raiffa Games and Decisions: Introduction and Critical Survey Dover ISBN 0486659437
• Maynard Smith, John Evolution and the Theory of Games, Cambridge University Press 1982
• Morgenstern, Oskar and John von Neumann (1947) The Theory of Games and Economic Behavior Princeton University Press
• Nash, John (1950) “Equilibrium points in n-person games” Proceedings of the National Academy of the USA 36(1):48-49.
• Poundstone, William Prisoner’s Dilemma: John von Neumann, Game Theory and the Puzzle of the Bomb, ISBN 038541580X

Other print references

• Camerer, Colin (2003) Behavioral Game Theory Princeton University Press ISBN 0691090394
• Gauthier, David (1987) Morals by Agreement Oxford University Press ISBN 0198249926
• Grim, Patrick, Trina Kokalis, Ali Alai-Tafti, Nicholas Kilb, and Paul St Denis (2004) “Making meaning happen.” Journal of Experimental & Theoretical Artificial Intelligence 16(4): 209-243.
• Kavka, Gregory (1986) Hobbesian Moral and Political Theory Princeton University Press. ISBN 069102765X
• Lewis, David (1969) Convention: A Philosophical Study
• Maynard Smith, J. and Harper, D. (2003) Animal Signals. Oxford University Press. ISBN 0198526857
• Quine, W.v.O (1967) “Truth by Convention” in Philosophica Essays for A.N. Whitehead Russel and Russel Publishers. ISBN 0846209705
• Quine, W.v.O (1960) “Carnap and Logical Truth” Synthese 12(4):350-374.
• Skyrms, Brian (1996) Evolution of the Social Contract Cambridge University Press. ISBN 0521555833
• Skyrms, Brian (2004) The Stag Hunt and the Evolution of Social Structure Cambridge University Press. ISBN 0521533929.
• Sober, Elliot and David Sloan Wilson (1999) Unto Others: The Evolution and Psychology of Unselfish Behavior Harvard University Press. ISBN 0674930479

Websites

• Paul Walker, An Outline of the History of Game Theory.
• David Levine: Game Theory. Papers, Lecture Notes and much more stuff.
• Alvin Roth: Game Theory and Experimental Economics page – Comprehensive list of links to game theory information on the Web
• Mike Shor: Game Theory .net – Lecture notes, interactive illustrations and other information.
• Jim Ratliff’s Graduate Course in Game Theory (lecture notes).
• Valentin Robu‘s software tool for simulation of bilateral negotiation (bargaining)
• Giorgi Japaridze: Game Semantics or Linear Logic? – Discussion of games in logic, and links.
• Don Ross: Review Of Game Theory.
• Bruno Verbeek and Christopher Morris: Game Theory and Ethics
• Chris Yiu’s Game Theory Lounge
• tutor2u Student notes and a presentation on Game Theory
• Elmer G. Wiens: Game Theory – Introduction, worked examples, play online two-person zero-sum games.
• Web sites on game theory and social interactions

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