Game theory can be used to analyze complex business problems by predicting the outcome of a situation based on the actions and reactions of the competition. It involves studying the competition and their reaction to any situation that is presented. This can help to even the score or even come out on top as the winner in any contest. For example, in the television show Survivor, a candidate decided to 'win by losing', setting a series of events in motion that eliminated some of the competition and allowed them to eventually win the game.
Have you ever had to dissect a complicated business scenario and were confused as to where to begin,...
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