Question
Can you help me to an example where I can set up two different payoff matrices? The first payoff matrix outcome harmful for both countries
Can you help me to an example where I can set up two different payoff matrices? The first payoff matrix outcome harmful for both countries and the second payoff matrix outcome beneficial for the United States.
Incorporate the concepts of game theory with international trade and tariffs. Set up two payoff matrices. Set up the first payoff matrix such that the outcome will be harmful to both countries. Set up the second payoff matrix such that the outcome will be beneficial to the United States. From your perspective as a consumer, evaluate the two matrices using current actions by each country to see which most likely benefits domestic consumers.
Thank you!
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