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6: Game Theory
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- 6.1: Game Theory Introduction
- Game theory is the study of strategic interactions between players. The key to understanding strategic decision making is to understand your opponent’s point of view, and to deduce his or her likely responses to your actions.
- 6.2: Cooperative Strategy (Collusion)
- Cooperative Strategy is a strategy that leads to the highest joint payoff for all players. Thus, the cooperative strategy is identical to collusion, where players work together to achieve the best joint outcome.