Applications of Game Theory
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…smoker gives up smoking and so stops buying cigarettes. Lastly, when making a game, the number of adversaries is assumed and the strategies of each are also assumed. However, one may not be able to account for all possible adversaries and all possible strategies that may be available in real life.
In conclusion, game theory may still be useful in giving us a framework with which to analyze the decision making process in competitive situations.
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