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Situations in life where game theory has been implicity or explcitly. What does game theory, implicity &...

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Economics

Situations in life where game theory has been implicity orexplcitly.

What does game theory, implicity & explicity mean?

Please give examples.

Answer & Explanation Solved by verified expert
4.4 Ratings (578 Votes)
Game theory studies the general principles that explain how people and organisations act in strategic situations in multiple agent framework Game theory studies strategy mainly through the analysis of different games A game in game theory is a fully explicit structure which characterises players their set of actions payoffs    See Answer
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