There are 2 criminals namely John and Alex being caught by the police and interrogated in 2 separate rooms so that they can’t communicate with each other. The most famous example of non-cooperative game theory is the prisoner’s dilemma. Non-cooperative game is a competitive game between each individual player in which there will be some winners and some losers. Game theory has 2 main categories namely cooperative and non-cooperative Equilibrium: The point in a game where both players have made their decisions and can’t make any other move.Outcome: The result after a decision has been made.Strategy: The rules that apply in the specific game.There are 4 main elements in game theory: Thus, game theory has a wide range of applications. Many phenomena in psychology, evolutionary biology, war, politics, economics, business, computer science, can be modeled as games. It addressed zero-sum games, which means a gain that is won by one player is a loss for other players. In game theory, the interaction between two or more players is usually defined in terms of a game with a specific set of rules. It is called game theory because the theory tries to understand the strategy of two or more players in a given situation. It first introduced by mathematician John von Neumann and economist Oskar Morgenstern in the 1940s. Game theory is a mathematical study about decision-making among competing players.
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