IndexHistoryThe Prisoner's DilemmaPhilosophy and EthicsConclusionGame theory examines our interactions and decisions in social contexts through the lens of "games." Explore the results of the different strategies available to the participants (known as "players" or "agents") and try to find the most "rational" option, which means maximizing profit in terms of one's own self-interest). Game theory has been labeled a “descriptive” theory, as opposed to an “explanatory” one: it does not explain why players act in a certain way, nor does it predict the definite course of action they will take. Instead, it provides information about how agents will behave if they play rationally and consistently throughout the game. A 'game' can be broadly defined as a strategic scenario involving multiple participants: as Binmore states in Game Theory: a very short Introduction, games are in action “every time humans interact”. Thus, since games must involve more than one player, although many conventional games such as Risk, Volleyball, Spit and Catan are still mathematically classified as "games", others such as Patience, Crossword Puzzles and the once popular single game The Player Version of Crossy Road, while fun, is not technically a game. Through games, game theory can be used to explain everyday phenomena and has applications in many fields. Applications of game theory are ever-expanding, and there are now many different types of games, from non-zero games to asymmetric games to combinatorial games, all of which I describe are slightly different: some games have a winner, some don't, etc. , accommodating almost every type of social interaction that exists. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essayHistoryGame theory remains in its infancy, less than a century old, especially when compared to other famous theorems (such as the Pythagorean Theorem) that have aged millennia. Although the first documented discussion of a game dates back to 1713 (in a letter by James Waldegrave) and was subjected to some scrutiny in the 19th and early 20th centuries, Game Theory as we know it today only really came into being in first half of the 20th century. 20th century with the publication of an article entitled On the Theory of Strategy Games in 1928. This work, written by the supposedly mad Hungarian mathematician John von Neuman, although not entirely exceptional in itself, led to the collaboration of von Neuman and Oskar Morgenstern , a prominent Austrian economist, and eventually facilitated the publication of Game Theory and Economic Behavior in 1944. The latter was published to a much greater extent than the former. , which truly revolutionized the field, described decades later by Princeton University Press as the “classic work on which modern game theory is based.” When it was first invented, the theory could only be applied to specific circumstances, but the framework has since been “deepened and generalized,” growing in its complexity and applications. It is truly a "living" theory, continually evolving and adapting, changing with the world; I think this is partly what makes it so captivating, that there is so much more to learn about it and from it, for example, Game Theory has become a major source of new concepts in Microeconomics. Both silent: departmental each = 0.5 hours totalBoth blame: school detention each= 2h totalOne blames, the other is silent: the accuser is released, the blame is placed on a Saturday= 3h totalThe Prisoner's DilemmaUndoubtedly the best knowntoy game is the prisoner's dilemma, a scenario that beautifully demonstrates how game theory can help us choose the mathematically "sensible" option by bringing to light the paradox that the algebraically correct choice is often far from the optimal solution. Usually, the infamous game is modeled using criminals and prison sentences, but to make it more resonant, "prison sentence" will be exchanged for school punishment and the game's two criminals with two rude pupils. The game, although slightly modified, works like this: two students have violated the school's code of conduct, but the teacher who disciplined them does not have enough evidence to convict them. Accordingly, to get the truth, the teacher places them in separate rooms (probably somewhere in the ominously called "Dungeons") and offers them a choice: they can remain silent or talk to their partner. The prisoner's dilemma (or rather the schoolboy's dilemma) is a textbook example of a non-zero-sum, non-cooperative, full-information game: the gains of one player do not necessarily compensate the losses of the other, both pupils cannot collaborate, however everyone knows all the terms of the game and knows that their counterpart also responds to the same terms. The teacher sets the conditions: if both students tell each other, both receive school punishment (one hour after school on Friday); if one tells it, but his faithful companion doesn't, the informer suffers no penalty, while the betrayed friend lasts 3 hours in detention on a Saturday; while if they report the accomplice and mercy, they each receive a departmental detention lasting 15 minutes. What should they do? Obviously the ideal is for both to remain silent: with this course of action their overall sentence will last just 30 minutes. However, since the players cannot communicate, a prisoner is unable to ensure that their accomplice remains mute. Therefore, the rational option (from a purely mathematical point of view) is for both to give up their partner. This is known as the dominant strategy (it is the best tactic regardless of the other player's actions): the player suffers a 1-hour sentence or no sentence, rather than the possibility of a 3-hour sentence. If both players reason the same way, the outcome is known as a Nash equilibrium, which is simply a situation in which both players adopt the dominant strategy. Vague applications (including telecommunications) Covid Evolutionary biology Games do not simply exist on the blackboard, but also in reality. MAD (Mutually Assured Destruction) during the Cold War, clumsy street dodging (a desperate attempt to maintain social distance), and …….. are all examples of games that were and are played in reality. The American, and later British auctions are a fantastic example of… Philosophy and Ethics From a philosophical point of view, game theory is intriguing. It imposes an algorithm on our decisions, making us wonder if it is really possible to "win" the game of life. In a certain sense, Game Theory can be restrictive and liberating: in certain cases, one realizes that the choices are finite, and one wonders to what extent one really has Free Will, but, on the other hand , in many cases, can rid us of indecision, help us make more sensible choices, from which we get the most. However, ethically speaking, the mathematically correct option does not necessarily correspond to the one we consider morally “right”, introducing an ethical dilemma: the conflict between the benefits of the individual and the benefits of society. But morality is at the center of our society, it is the basis of our religions:.