Game Theory: An Appraisal

In the beginning, computers were merely standalone systems that could repeat basic
computations in a fixed number of times. Later, computers were tailored to compute
answers to problems. Algorithms understandable by computers were developed and
the task of determining which worked better with respect to run-time and complexity
was left to the computer scientists. Subsequently, game theory became prominent with
applications, notably in economics. Game theory provides tools for analyzing situations,
in which parties called players make decisions that are independent. The problem of
computing with the solution concepts proposed by game theory raises important
challenges for computer science, which test the boundaries of current algorithmic
techniques. The Internet emerged as a result of people wanting to interact. Logically,
game theorists tried to understand the growing market of the Internet. Also, computer
scientists, with Internet applications, wished to create new designs and algorithms. This
paper discusses game theory, its background and applications, with special focus on
future considerations