The study of how people (or firms) behave in strategic situations is called

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Game theory is the study of how people (or firms) behave in strategic situations. Cost-benefit analysis is a decision-making process that compares the expected costs of an action to the expected benefits. Recursive analysis is a mathematical method for solving problems by breaking them down into smaller, more manageable sub-problems, while normative economics is the study of how things should be, rather than how they are.

The Study of How People (Or Firms) Behave in Strategic