Understanding Game Theory The Strategic power  of Mathematical Thinking in Decision Making

MAYURI ODELA; B Bhagya Laxmi

doi:10.36948/ijfmr.2025.v07i06.64710

Understanding Game Theory The Strategic power of Mathematical Thinking in Decision Making

Author(s)	Ms. MAYURI ODELA, B Bhagya Laxmi
Country	India
Abstract	Game theory has emerged as a fundamental framework for analyzing strategic interactions where the outcomes of individual decisions depend on the choices of multiple participants. This paper explores the mathematical foundations and practical applications of game theory in decision-making processes across diverse domains. We examine core concepts including Nash equilibrium, dominant strategies, mixed strategies, and the prisoner's dilemma, demonstrating how mathematical modelling transforms complex competitive and cooperative scenarios into analyzable frameworks. The study investigates both classical and contemporary applications of game theory in economics, political science, business strategy, evolutionary biology, and artificial intelligence. Through systematic analysis of strategic games, we illustrate how players can optimize their decision-making by anticipating opponents' rational behavior and identifying equilibrium states. The paper further discusses the limitations of classical game theory assumptions, including perfect rationality and complete information, while exploring behavioral game theory's insights into actual human decision-making. By bridging abstract mathematical principles with real-world strategic situations, this research demonstrates that game theory provides invaluable tools for understanding conflict, cooperation, and competition in interconnected decision environments. Our findings emphasize that mathematical thinking, when applied through game-theoretic frameworks, enables decision-makers to move beyond intuition toward systematic, quantifiable strategic analysis. This paper contributes to the growing body of literature highlighting game theory's essential role in modern analytical thinking and its continued relevance in an increasingly complex, interconnected world.
Keywords	Game theory, strategic decision-making, Nash equilibrium, mathematical modelling, rational choice theory, competitive strategy
Field	Mathematics
Published In	Volume 7, Issue 6, November-December 2025
Published On	2025-12-28
DOI	https://doi.org/10.36948/ijfmr.2025.v07i06.64710

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Understanding Game Theory The Strategic power of Mathematical Thinking in Decision Making

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