Game theory is named as such because it’s extremely appropriate in analyzing games where competition is prevalent. Look at chess, basketball, football, etc. The situation posed in these games is heavy with rivalry and the choices a player makes during the game will affect the choices of his opponents. However, it is not only in sports that game theory is applicable in real life. A business, for one, can be considered a game, as the major people involved compete with each other in order to win their target customers
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