ABSTRACT
Game theory is that branch of decision theory which examines a particular class of decisions under uncertainty involving the interdependent actions of at least two decision makers. The utility model underlying both classical decision theory and game theory in particular is of questionable value for describing how human beings actually make decisions. Much of the value of game theory formulations can be realized without assuming the utility model put forward by von Neumann and Morgenstern. A primitive game may be considered as any set of interdependent choices among decision makers in which all parties are able to identify the value of each possible outcome in terms of positive, negative, and neutral levels of value. A decision maker may be a person, an organization, a representative of a group, or any other entity capable of carrying out a decision making act.
