Game theory

"One should remember that mathematical logic itself or the study of mathematics as a formal system can be considered a branch of combinatorial analysis. Metamathematics introduces a class of games—"solitaires"—to be played with symbols according to formal rules. One sense of Gödels theorem is that some properties of these games can be ascertained only by playing them."

"Game theory can be defined as the study of mathematical models of conflict and cooperation between intelligent rational decision-makers."

"Interactive Decision Theory" would perhaps be a more descriptive name for the discipline usually called Game Theory"

"That strategic rivalry in a long-term relationship may differ from that of a one-shot game is by now quite a familiar idea. Repeated play allows players to respond to each other’s actions, and so each player must consider the reactions of his opponents in making his decision. The fear of retaliation may thus lead to outcomes that otherwise would not occur. The most dramatic expression of this phenomenon is the celebrated "Folk Theorem." An outcome that Pareto dominates the point is called individually rational. The Folk Theorem asserts that any individually rational outcome can arise as a in infinitely repeated games with sufficiently little discounting."

"[G]ame theory has already established itself as an essential tool in the , where it is widely regarded as a unifying language for investigating human behavior. Game theorys prominence in evolutionary biology builds a natural bridge between the life sciences and the behavioral sciences. And connections have been established between game theory and the two most prominent pillars of physics: and quantum theory. ...[M]any physicists, neuroscientists, and social scientists... are... pursuing the dream of a quantitative science of human behavior. Game theory is showing signs of... an increasing important role in that endeavor. Its a story of exploration along the shoreline separating the continent of knowledge from an ocean of ignorance... a story worth telling."

"Game theory brings to the chaos-theory table the idea that generally, societies are not designed, and that most situations don’t come with a rulebook. Instead, people have their own plans and designs on how things should fit together. They want to determine how the game is played, and they see societal designers as myopic busybodies who would imprison them with their theories."

"Direct application of the theory of games to the solution of real problems has been rare, and its chief uses have been to offer some insight and understanding into the problems of competition (without actually solving them), and to provide mathematicians with new fields to conquer. Many important real problems involve more than two opponents, are not zero-sum, and exceed the bounds of the most developed versions of game theory."

"Game theory is about how people cooperate as much as how they compete... Game theory is about the emergence, transformation, diffusion and stabilization of forms of behavior."

"Game theory is the study of individual decision-making in the face of competing boundedly rational actors."