Economists use _________ to better understand what might happen in situations where strategic interactions are involved.

Question

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Game theory is a mathematical framework that allows economists to study strategic interactions between individuals or firms. It provides a way to analyze decision-making behavior in situations where the outcome depends on the choices of more than one individual or firm. Game theory has been applied to a wide range of fields, including economics, political science, and biology, among others.

Economists Use _________ to Better Understand What Might Happen in Situations