Question: 1. Explain why economists use game theory. E3 Ynulube E] 2. Review the prisoners dilemma in C25 before watching this video. Afterward,watch the 47minute clip

1. Explain why economists use game theory. E3 Ynulube E] 2. Review the prisoners dilemma in C25 before watching this video. Afterward,watch the 47minute clip from Princess Bride. Afterviewing, create a payoff matrix similar to the prisoner's dilemma showing the possible "plays" and possible "outcomes" forVizzini and Wesley. Predict the outcome of the game based on your understanding of incentives and the assumption that humans act mtionally and in their own selfeinterest. You can take a picture ofyour spectacular payoff matrix and upload it or use software programs to draw it. No diagram. no points

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