Game TheoryImagine a group of people making decisions. The decisions made do not have to be significant at all. They simply must be significant to the situation at hand. This concept is considered by mathematicians to be game theory. Game theory is divided into three different types of games. As stated by Thomas S. Ferguson of UCLA “There are three main mathematical models or forms used in the study of games, the extensive form, the strategic form, and the coalition form.” Some of the most popular games discussed in Game Theory are chess, checkers, and tic-tac-toe (Ferguson). There are also different terms used in this theory as well. Some of the main terms are Nash equilibrium, utility theory, perfect information, imperfect information, and no-chance moves. Game theory is divided based on the timeline of game theory, terms, and why it is studied. Timeline of Game Theory Game theory is something that has been studied for a long time in history. Early in history several people tried to understand what was happening to society and to do so they used something similar to Game Theory. At that time Game Theory was mostly about talking about economics. The first known written information about the theory in a mathematical context was by mathematician James Waldegrave in 1713, he was writing a letter describing the minimax system which was about how to win a card game (Open Options Corporation, 2007). The card game he wrote about is called le Her. The game is not complicated and the minimax system he wrote about was all about understanding all the different possibilities of winning this game if you are player one or player two (Ethier, 2009). There are s... half of the paper... athematic. Retrieved April 17, 2011, from New York Times.com: http://www.nytimes.com/1995/01/27/obituaries/albert-w-tucker-89-pioneering-mathematician.htmlNash, J. (1994) . Autobiography of John Nash. Retrieved April 17, 2011, from nobelprize.org: http://nobelprize.org/nobel_prizes/economics/laureates/1994/nash-autobio.htmlNorstad, J. (2010, January 19). An introduction to utility theory. Retrieved April 17, 2011, from http://homepage.mac.com: http://homepage.mac.com/j.norstad/finance/util.pdfOpen Options Corporation. (2007, May 4). Introduction to game theory. Retrieved April 17, 2011, from http://www.rotman.utoronto.ca/icpm/Open%20Options_Introduction_To_Game_Theory.pdfShor, M. (2005, August 15). Perfect information. Retrieved April 17, 2011, from Dictionary of Game Theory Terms, Game Theory.net: http://www.gametheory.net/dictionary/PerfectInformation.html