Game theory is the study of how people and businesses behave in strategic situations (i.e. when they must consider the effect of other people’s responses to their own actions). There are various types of games that might be studied.
Repeated games – a game played more than once
A very common feature of applied business – e.g. decisions on:
Repeated games – a crucial point is the reaction to a defective strategy by another player
Full revision presentation on Game Theory...
© 2022 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.