Ideas were developed further by mathematicians such as John Nash, and Robert Axelrod. While ideas relating to Game Theory have been proposed and discussed for a long time, it was only in 1928 with John von Neumann’s book “ Theory of Games and Economic Behavior” that the field was formalized. What is Game Theory?ĭefined as “the study of mathematical models of conflict and cooperation between intelligent rational decision-makers”, it is essentially a field of study that looks at the way in which people respond to limited choices, that have a limited set of outcomes that can be either good, bad, or neutral. This is where Game Theory comes in.īelow, we will explore what Game Theory is, examples of its use in human behavior experiments, and how biosensors (eye tracking, GSR, facial expression analysis, and EEG in particular) can help investigate the decision-making process in detail. It has often been difficult for psychologists and human behavior researchers to investigate our decision-making in a systematic way for this very reason. With most decisions in the real world, there are a huge number of possible actions that can be taken and almost as many extraneous factors that can influence what choice we make. Understanding this decision-making process – how we end up committing to a certain form of action – is one of the central tasks of human behavior research. Our days are shaped by decisions both big and small as we make our way through the world (“what should I wear today?”, “what should I do with my life?”).
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