Identify a real-world situation in which you see game theory/strategic behavior in action. Explain the game: Who are the players? What are the strategies they have at their disposal? How are payoffs determined? What, if any, is the Nash equilibrium? Note, this article from Up Journey might help you come up with an example:

https://upjourney.com/game-theory-examples-in-real-life

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Answer One realworld situation where game theory and strategic behavior come into play is in ... View the full answer