When modeling economic situations using game theory, the economic participants are generally referred to as:?

Business

2 answers:

Natasha_Volkova [10]3 years ago

7 0

Answer:

Players

Explanation:

Game theory is a way of thinking in which social situations are seen as a game among competing players. The analysis focuses on strategy and optimal decision-making. In this type of thinking, economic participants are generally referred to as players. Game theory originated thanks to the work of John von Neumann, John Nash and Oskar Morgenstern.

zysi [14]3 years ago

4 0

In game theory, economic participants are referred to as "players". Game theory consists in the use of mathematical models in order to predict the behaviour of rational decision-makers in cooperative and competitive environments.

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