ED7

Think of a strategy pursued by the company your work for, another company, or even a sports team. How can game theory help improve the outcomes for the decision makers? Explain whether simultaneous-move, repeated-move, or sequential-move games are most applicable. Are there incentives for collusion? Should a random strategy be used? What differences in outcomes might you expect if the decision maker uses game theory when developing strategies? Make sure to give specific real-world examples.

1 page (cover and reference page not counted).

This is for an economic course.