Game Theory is basically denoting on study of mathematical model of differences and cooperation between intelligent balanced decision-makers. Game Theory enables universal mathematical techniques for analyzing situation which individuals or competitors in same segment make decision that will influence one another’s interests. As such, game theory offers impending of essential importance for scholars in all branches of the social science, as well for practical decision-makers. The situation that game theories studies are not just spare time activities, as the term game might unfortunately suggest. Conflict analysis or interactive decision theory might be more descriptively precise names for the subject ( B. Myerson, 1997 )

Basically it may help in various twigs similar to social science and also economy not only in theatrical path but also in practical decision making process. Game theory implementing that conflict analysis or interactive decision theory. The foundation of game theory enables through its position in the mathematical narration of social science. Now days the vast advantage in the most fundamental and theoretical branches of various sciences have created a nuclear dilemma that intimidates the survival of our civilization. Due to this scope which motivated to work lot of mathematicians and social scientists in last half decades. With the advantages of this theory economist can able to understand conflict and cooperation by understanding quantitative models and real life situations (Myerson-1997).

Game theory is the study of the choice of strategies by interacting rational agents, or in other words it is a interactive decision theory. A key step in a game theoretic analysis is to discover which strategy is a person’s best response to the strategies chosen by the others. Game theory is based on a scientific metaphor, the idea that not only considers as game but also consider like economic competition, war and elections, can be treated and analyzed as we would analysis games ( Leon A. petrosjan, 1996).