Game theory is a branch of mathematics and economics that focuses on the study of strategic decision-making in situations where the outcome of one's choices depends on the choices made by others. It is used to analyze the interactions between rational individuals or entities, known as players, and their decision-making processes in a variety of scenarios, such as business negotiations, political conflicts, and social situations. Game theory seeks to understand and predict the behavior of players, their strategies, and the possible outcomes that can result from their interactions. It provides a framework for analyzing situations of conflict and cooperation, and helps to determine the optimal strategies that players can employ to achieve their goals. Key concepts in game theory include games, players, strategies, payoffs, equilibria, and solution concepts such as Nash equilibrium. Game theory has applications in a wide range of fields, including economics, political science, biology, psychology, computer science, and more. It is used to analyze and model a variety of real-world situations, from market competition and bargaining situations to military conflicts and social dilemmas.