The Theory of Games and Economic Behavior (book)

"The Theory of Games and Economic Behavior," by John von Neumann and Oskar Morgenstern, introduced game theory as a way to analyze strategic decision-making among individuals or organizations. It explores how people make choices in competitive and cooperative situations, considering their own interests and potential responses from others. The book provides mathematical models to predict outcomes in markets, politics, and social interactions, emphasizing that rational decision-makers aim to optimize their results while considering others’ actions. Overall, it offers a systematic approach to understanding strategic behavior in economics and beyond.