But what does game theory look like in practice? What kinds of ‘games’ fall under this concept, and how do they enhance our understanding of strategic behavior in real-life situations? In this article ...

In most negotiations, people assume success comes from persuasion or compromise at the table. But those who understand game theory know the real strategy starts long before the first conversation.

Game Theory was invented by the brilliant mathematician John von Neumann, who also co-authored the first book on the topic with Oscar Morgenstern, an economist. (I actually took a course in Game ...