What is Game Theory?

Game Theory is the study of strategic interation between rational decision makers using mathematical models.

Theorists apply data derived on players past behavior, motivations, and salience to understand and predict how they are likely to act in a given situation. These strategic models are useful in economics, diplomacy, and relationships in both professional and personal settings. As professionals in the Customer Experience field we use Game Theory strategies to help User Experience designers and researchers become more adept at their practice in advocating their ideas and solutions within the organizations they represent.

Have an example?

One of the most popular examples of Game Theory in practice involves the misdventures of two individuals named Purple and Gray.