Term Paper on Game Theory

Game Theory Term Paper:

Game theory is the mathematical method of the research of the optimal strategies in games. The game is understood a process which involves the participation of at least two sides, which do their best to satisfy their interests. Every side has its own aim and uses its own strategy, which can help to win or on the contrary lose the game depending on the behaviour of the other players and other factors.

Game theory helps to choose the best gaming strategies paying attention to the opportunities and qualities of the participants, their resources and actions. Game theory is the part of the applied mathematics and operations research but the results of its research are used not only in mathematics but in the great number of disciplines which are too far from calculation and numbers.

More often game theory is applied in economics to predict various economic processes (furthermore, game theory was worked out primarily for economics to understand its problems and solve them effectively), though theory is also used in political science, sociology, psychology, ethics, law and crime, etc.

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Since the 1970-ies game theory has become an important part of biology, because its experts decided to use the theory for the research of the behavior of the animals and the process of evolution. Such spheres as cybernetics and IT can not exist without game theory, because the artificial intelligence works according to its principles. Philosophy and ethics use game theory in order to create the model of the ideal ‘noble’ behaviour, as this problem has been though-provoking since the time of the ancient Greece and activity of Plato.

Game theory is an interesting and effective method of the solution of various problems and prediction of numerous processes in different sphere of human life. The student can devote time to the research of this topic and complete a good game theory term paper explaining its structure, core aspects and principles and defining its role for the numerous sciences. The student can provide the strong and weak sides of the theory and draw the right conclusions concerning its value providing the direct examples of the application of game theory on practice.

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