When do people us the "Game Theory" & how do U use Game Theory in chess?

Answer 1

People use game theory when formulating strategies. Large companies sometime hire game theorists to assist them in making choices regarding introduction of new products. The U.S. government extensively consulted with game theorists during the Cold War trying to work out a good containment strategy.

As to chess, there still is no generally accepted way to apply game theory to it; the rules are too complex. As a result, there is still no mathematically sound proof of the impossibility of the blacks' win, although the practice shows that blacks never win, unless the whites make a dumb mistake.

Answer 2

Game theory can be used in the business world to try to anticipate how rival firms will act when the firm in question alters it's behavior. It can also help to explain the temptation for firms to rig or collude to avoid the risk of uncertain behavior. Thus they can split the market and assure more profitability. Cops can use game theory to play good cop vs. bad cop and see if they can convince a suspect to squeal on his or her crime partner based upon assumptions and outcomes.