An important role in economic applications is also played by the concept of the probability amplitude utilized by quantum statistics. The various areas of quantum economics research include: market games, duopoly problems, auctions and competitions, gambling, quantum money, quantum annealing, quantum cryptography and security issues quantum optimal transport or even high-frequency trading. The impetus for the development of this field was the emergence of programmable quantum computers. One of the fields that uses the quantum mechanics formalism is quantum economics-a very promising novel field of its application.

Despite the many controversies it has aroused since the dawn of its history, its predictions have been confirmed experimentally with incredible accuracy. Quantum mechanics is one of the most prolific theories of all time. This type of dilemma occurs in many real situations regarding e.g., traffic organization, excessive exploitation of natural resources or public procurement regulation. It is often the opposite-striving to meet one’s own interests does not lead to the best solution for all players. However, in many cases, what is beneficial individually is not always also Pareto-efficient. From an economic point of view, they are the most desirable results. Game theory results favorable to the whole group of players are called Pareto-efficient. In a Nash equilibrium no player has anything to gain by changing only his own strategy. It describes the optimal decisions with regard to the moves of other players. Among all notions of game theory, the concept of Nash equilibrium plays a major role.

Game theory deals with modeling these activities and searching for optimal strategies. The participating sites have their own sets of possible actions, called strategies, and have preferences over these actions defined by the payoff matrix.

Examples of situations requiring strategic thinking can be found in economics, political science, biology or military applications. It is essential in making choices and considering opportunities in business and in everyday life. Game theory analyzes and models the behavior of agents in the context of strategic thinking and interactive decision making.

Game of chicken real life examples