Game theory

Definition

Game theory is a framework for understanding strategic interactions among rational decision-makers, often used in political science to predict the behavior of nations or groups in international relations. It analyzes how participants make choices that will maximize their own benefits while considering the potential choices of others.

Related terms

Rational Choice Theory:

Assumes individuals always make prudent and logical decisions that provide them with the highest amount of personal utility.

Nash Equilibrium:

A concept within game theory where no player can benefit by changing strategies while the other players keep theirs unchanged.

Deterrence Theory: A strategy aimed at dissuading an adversary from taking an action not yet started by threat of retaliation