Why Maths Matters: Why Game Theory Matters

Here’s our first case study on real life applications of mathematical sciences and why maths matters:

You’ve got a bad poker hand. Your opponent bets. Should you fold? Or should you make a big raise, hoping your opponent will fold and you can win without showing your cards? Finding the best strategy here uses Game Theory, developed in the 1940s by US mathematicians and then later by mathematicians and economists around the world. The same ideas can be applied to nuclear deterrence, evolutionary biology, and all sorts of questions in economics.