Game Theory II

"A proven theorem of game theory states that every game with complete information possesses a saddle point and therefore a solution." (Richard A Epstein, "The Theory of Gambling and Statistical Logic" [Revised Edition], 1977)

"Game theory is a collection of mathematical models designed to study situations involving conflict and/or cooperation. It allows for a multiplicity of decision makers who may have different preferences and objectives. Such models involve a variety of different solution concepts concerned with strategic optimization, stability, bargaining, compromise, equity and coalition formation." (Notices of the American Mathematical Society Vol. 26 (1), 1979) 

"A finite game is played for the purpose of winning, an infinite game for the purpose of continuing the play." (James P Cars, "Finite and Infinite Games: A Vision of Life as Play and Possibility", 1986)

"Game theory is a theory of strategic interaction. That is to say, it is a theory of rational behavior in social situations in which each player has to choose his moves on the basis of what he thinks the other players' countermoves are likely to be." (John Harsanyi, "Games with Incomplete Information", The American Economic Review Vol. 85 (3), 1997)

"In principle, every social situation involves strategic interaction among the participants. Thus, one might argue that proper understanding of any social situation would require game-theoretic analysis. But in actual fact, classical economic theory did manage to sidestep the game-theoretic aspects of economic behavior by postulating perfect competition, i. e., by assuming that every buyer and every seller is very small as compared with the size of the relevant markets, so that nobody can significantly affect the existing market prices by his actions." (John Harsanyi, "Games with Incomplete Information" 1997)

"Like all of mathematics, game theory is a tautology whose conclusions are true because they are contained in the premises." (Thomas Flanagan, "Game Theory and Canadian Politics", 1998)

"I think game theory creates ideas that are important in solving and approaching conflict in general." Robert Aumann, 2005)

"The players in a game are said to be in strategic equilibrium (or simply equilibrium) when their play is mutually optimal: when the actions and plans of each player are rational in the given strategic environment - i. e., when each knows the actions and plans of the others." (Robert Aumann, "War and Peace", 2005)

"An equilibrium is not always an optimum; it might not even be good. This may be the most important discovery of game theory." (Ivar Ekeland, "The Best of All Possible Worlds", 2006)

"Game theory brings to the chaos–theory table the idea that generally, societies are not designed, and that most situations don't come with a rulebook. Instead, people have their own plans and designs on how things should fit together. They want to determine how the game is played, and they see societal designers as myopic busybodies who would imprison them with their theories." (Lawrence K Samuels, "In Defense of Chaos: The Chaology of Politics, Economics and Human Action", 2013)