Game theory is a branch of mathematics used to analyze competitive situations that depend not only on one's own choices, but also on the choices made by others. Some people have the mistaken perception that the ability to compute game theory and probability calculations separates expert players from the rest.
Quantitative knowledge of game theory is not necessary to become an expert poker player. However, qualitative concepts of game theory provide a framework for analyzing expert play and ideas. Similarly, you do not need to be an expert in psychology, although we can use psychology to explain how an expert poker player analyzes himself and his opponents.
There are two kinds of game theory, and both are relevant for the professional poker player. The first is cooperative game theory, which involves situations where more than one person has a common goal. In the case ol poker, the goal is to keep a good game going for an extended period of time. The second kind is non-cooperative game theory, which we apply to maximize profits in an individual hand of poker.
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