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Overview Game theory is a branch of logic which deals with cooperation and conflict in the context of negotiations and payoffs. The theory of games can elucidate the incentive conditions required for cooperation, can aid understanding of strategic decisions of nations or actors in conflict, and can help in the development of models of bargaining and deterrence. Table of Contents Overview 4 Key Concepts and Terms 4 The Prisoner's Dilemma 4 Repeated games 4 Strategies 4 Pure strategies 5 Mixed strategies 5 Game matrix 5 Maximin, minimax, and saddle point 5 Zero-sum games 6 Constant-sum games 7 Saddle points 8 Dominance and reduced games 8 Deadlock 8 Odds in games without saddle points 9 Fair game value 10 Other types of games 10 Assumptions 10 Frequently Asked Questions 11 Is game theory purely a branch of logic? 11 What is an extensive form game? 11 Bibliography 11