Understanding Game Theory
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Questions and Answers

What is game theory?

  • A mathematical framework for analysing decision-making involving multiple parties (correct)
  • A method for predicting the stock market
  • A psychological framework for understanding individual decision-making
  • A set of rules and regulations for strategic behaviour

    • In which fields is game theory widely used?

  • Environmental science, sociology, and anthropology
  • Art, literature, and music
  • Economics, political science, psychology, and other fields (correct)
  • Medicine, engineering, and technology

    • What is a key factor to consider in operations strategy?

  • Ignoring the role of employees in operations
  • Establishing goals for every operation (correct)
  • Maximizing profits at any cost
  • Implementing strict rules for employees

    • How can having the right employees impact operations?

    <p>It can improve the quality of the finished task</p> Signup and view all the answers

    What can game theory be used to predict?

    <p>The likely outcomes of different scenarios</p> Signup and view all the answers

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