Game theory question.
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The concept of game theory is one I find intriguing. It's relationship to economics was not understood until the last decade and now the bulk of the Nobel economics prizes have been awarded for behavioral economics of which game theory is a component. Why is game theory important and can it predict economic actions?
Game Theory: Why might cooperation emerge from a repeated game even though the single-shot game yields non-cooperation as the dominant strategy?
When is game theory useful?