It might seem appealing to think of decision-making in terms of neurology and psychology. Game theory was first developed by John von Neumann and Oskar Morgenstern, and further developed by many mathematicians like John Nash and Lloyd Shapley. Life is indeed analogous to a game, and thus, game theory also has wide-ranging applications in economics, biology and beyond. It is essentially a science of decision-making. On the other hand, another science – game theory – deals with the mathematics of interaction between players in a game.
With its wide-ranging applications, chaos theory is indeed a very promising science. Chaos theory studies systems which are unpredictable, and slight changes in the initial conditions of which can lead to drastically different outcomes. On one hand, we have a new science – chaos theory – which studies complex, unpredictable phenomena in terms of strange patterns called fractals and some universal laws regarding them. It is often impossible to predict complex, real-life phenomena using simple mathematical equations. From weather to strategic interactions, prediction is present everywhere. However, scientifically speaking, prediction is absolutely essential. Prediction is a messy business, and astrologers are seldom genuine. From the very beginning, we have tried to predict the future.
