Homework answers / question archive / Many sports and business use different concepts of game theory especially each individual

Many sports and business use different concepts of game theory especially each individual

Economics

Share With

Many sports and business use different concepts of game theory especially each individual. An example of this is during a war it’s a team that goes out there to fight for the country but a lot of the time one is focused on themselves to make sure they make it out alive. Also, when they’re facing their opponent, they wait for them to make a move to then process their next move and reaction. Hilsenrath (2005) mentioned that people often enough act not only with what they believe is right and their strategy but also with how the opponents react as well as their own teammates. A lot of the times when one is focused on themselves and not on the whole picture is when small accidents happen that affect everyone. To be able to protect themselves and the rest of the team is through communication and to realize what is the best outcome and how to achieve that.