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Essay / Game theory: thinking positively and negatively...
Ever since you were a child, you have unknowingly used game theory. When your parents gave you the option to choose a candy bar, your brain started thinking about all the possibilities that depended on the candy you chose. You would think which one would taste better, make you feel better, and maybe be healthier for you. Ultimately, you would limit your choices to just one candy and happily eat it. Game theory involves using theory to think about all the positive and negative possibilities that could arise in a problem and trying to maximize the positive. Game theory is not just one theory; over the years, it has spread into six main games. These games are: zero-sum games, non-zero-sum games, simultaneous-move games, sequential-move games, one-move games, and repeated games. Each of these games will be discussed in more depth in this essay, with the exception of zero-sum games. Dalton will talk about the zero-sum game in his essay. History is a very important key when trying to understand what exactly game theory is. Game theory was officially discovered by John Von Nueman and Oskar Morgenstern in 1944. Although these two brilliant men are credited with the discovery, game theory was in use centuries before it was written down. In 500 AD, the Talmud used the idea of game theory to problematize the different ways of distributing a man's estate to his three wives. Many other well-known people used game theory before it was officially recognized. For example, Socrates discovered that Plato used game theory in two of his works, the works Socrates was talking about are called "Laches" and "Symposium". Hemán Cortés, a Spanish explorer, destroyed all of his ships when conquering a new land to ensure that they did not denounce each other. This will lead the two prisoners to trust each other and understand that they must keep quiet. Ultimately, repeated play is about trying the game multiple times and finding the right pattern to complete the game. Game theory is about thinking through all the positive and negative outcomes of a situation. People use game theory every day to solve problems and make decisions. Those who work in the business world use game theory to make important decisions about expanding their market and winning over the competition. Additionally, people don't just use game theory, they use all six different branches of game theory. These branches are: zero-sum games, non-zero-sum games, simultaneous-move games, sequential-move games, one-move games and repeated games. Overall, game theory is a very interesting and useful mathematical technique to know..