game theorists

What Are The Advantages Of Game Theory?

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What Are The Advantages Of Game Theory? Game theory is used to analyze such competitive situations. Actually, game theory provides the basis for rational decisions and thus improves the decision making process. Is game theory useful in real life? As discussed in lecture material, game theory does in fact have limited practical applications in real

What Is The Application Of Game Theory?

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What Is The Application Of Game Theory? Economists use ‘Game Theory’ as a tool to analyze economic competition, economic phenomena such as bargaining, mechanism design, auctions, voting theory; experimental economics, political economy, behavioral economics etc. Game theory is applied for determining different strategies in the business world. What are the applications of game theory in