What is game theory, and how do businesses use games

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What is game theory, and how do businesses use games?

In your Managerial Economics textbook, we consider a sequential-move game in which an entrant is considering entering an industry in competition with an incumbent firm (see Figure 15-1). There are several possibilities of how this sequential game will be played. We want to use the Froeb rule of look ahead and reason back.

Reference no: EM132511580

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What is game theory, and how do businesses use games : What is game theory, and how do businesses use games?

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