game theory is a branch of economics and mathematics that studies strategic decision-making. it is based on the idea that people and organizations often make decisions by considering how their actions will affect the actions of others.
in game theory, a "game" is a situation in which two or more individuals or groups (called "players") make decisions that simultaneously affect each other's outcomes. these decisions are often modeled as "strategies," and the outcomes of the game are determined by the combination of strategies chosen by the players.
an example of a game in game theory is the "prisoner's dilemma." in this game, two suspects are a…