who gave the concept of game theory first
Game theory Early discussions of examples of two-person games occurred long before the rise of modern, mathematical game theory. The first known discussion of game theory occurred in a letter written by Charles Waldegrave, an active Jacobite, and uncle to James Waldegrave, a British diplomat, in 1713.[2] In this letter, Waldegrave provides a minimax mixed strategy solution to a two-person version of the card game le Her, and the problem is now known as Waldegrave problem. James Madison made what we now recognize as a game-theoretic analysis of the ways states can be expected to behave under different systems of taxation.[3][4] In his 1838 Recherches sur les principes mathématiques de la théorie des richesses (Researches into the Mathematical Principles of the Theory of Wealth), Antoine Augustin Cournot considered a duopoly and presents a solution that is a restricted version of the Nash equilibrium.
Parker Brothers Parker Brothers was founded by George S. Parker. Parker's philosophy deviated from the prevalent theme of board game design; he believed that games should be played for enjoyment and did not need to emphasize morals and values. He created his first game, called Banking, in 1883 when he was 16.[2] Banking is a game in which players borrowed money from the bank and tried to generate wealth by guessing how well they could do. The game included 160 cards which foretold their failures or successes. The game was so popular among family and friends that his brother, Charles Parker, urged him to publish it. George approached two Boston publishers with the idea, but was unsuccessful. Not discouraged, he spent $40 to publish 500 sets of Banking.[2] He eventually sold all but twelve copies, making a profit of $100.