Game theory is said to have been introduced by Emile Borel in 1921. Borel was a French mathematician who published articles on game theory. From this point of view and according to the article “Game Theory”, Borel could however have been designated as the “first mathematician to imagine an organized system for playing games”; The evidence showed that Borel did not develop his ideas further. This is why most historians have given credit to John Von Neumann. Von Neumann was born in 1903 in Budapest, Hungary. His first mathematical paper was published, with the help of his tutor, when he was 18. Von Neumann later studied mathematics in college and eventually earned his doctorate in mathematics with a minor in physics and chemistry. Game theory is said to have been developed by Von Neumann in 1944. Game theory concerns two or more decision makers called players, who compete against each other as adversaries. In game theory, players choose a strategy without any prior knowledge of the other player's strategy. Siliconfareast.com defines game theory as “a concept that deals with formulating the correct strategy that will enable an individual or entity, faced with a complex challenge, to successfully meet that challenge.” What is practical in my daily work is when our department meets and at the end of the meeting we sit down and try to decide where we will go to lunch. Although it seems like a simple decision to make, this decision requires strategic thinking and using all available resources to find the best location that meets everyone's tastes. There are several within our department who cannot eat spicy food and a few others who...... middle of paper ...... as soon as there is a playground where the Rules must be followed and behaviors rationalized, game theory can create the best competitive moves.Works CitedValue Based Management.net (March 29, 2010). Game theory models and methods available at www.valuebasedmanagement.net/methods_game_theory.htmlFrance, Chen, Janet., Lu, Su-I., Vehkter, Dan (March 29, 2010). Game theory available at http://171.64.64.250/class/cophmore-college/projects-98/game-theory/France, Chen, Janet., Lu, Su-I., Vehkter, Dan (March 29, 2010). Von Neumann and the Development of Game Theory available at http://171.64.64.250/class/cophmore-college/projects-98/neumann.htmlSilicofareast.com (March 29, 2010). Game Theory available at www.silicofareast.com/game-theory.htmCengage Learning, Inc. Quantitative Methods for Business. Copyright 2010. Introduction to game theory page 166