The essence of game theory is that:
A) the more people play, the more equal the outcome.
B) the outcome for an actor depends on the choices of other actors.
C) only the elite can play.
D) rules vary depending on the social class of the players.

Question

Quizplus · Accepted Answer

Game theory is based on the idea that the outcome for an actor (or player) is dependent on the choices made by other actors. It is a way of analyzing decision-making in social situations where the best choice or strategy for one individual depends on the choices of others. The goal of game theory is to identify and analyze the best strategies for each player in a given situation.

The Essence of Game Theory Is That