Definitions for game theory
Random House Webster's College Dictionary
a mathematical theory that deals with strategies for maximizing gains and minimizing losses within prescribed constraints.
game theory, theory of games(noun)
(economics) a theory of competition stated in terms of gains and losses among opposing players
A branch of applied mathematics that studies strategic situations in which individuals or organisations choose various actions in an attempt to maximize their returns.
U.S. National Library of Medicine
Theoretical construct used in applied mathematics to analyze certain situations in which there is an interplay between parties that may have similar, opposed, or mixed interests. In a typical game, decision-making "players," who each have their own goals, try to gain advantage over the other parties by anticipating each other's decisions; the game is finally resolved as a consequence of the players' decisions.