The branch of mathematics that analyzes situations in which players must make decisions and then receive payoffs most often used by economists is
A) oligopoly collusion.
B) prisoner's dilemma.
C) game theory.
D) collusion theory

Question

Quizplus · Accepted Answer

Game theory is the branch of mathematics that deals with the analysis of strategies for dealing with competitive situations where the outcome of a participant's choice of action depends critically on the actions of other participants. It is widely used in economics to model the strategic interaction among rational decision-makers.

The Branch of Mathematics That Analyzes Situations in Which Players