Economics for Managers MBA 6053. How can we 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. Evaluate the two matrices using current actions by each country to see which matrix is most likely correct. Discuss whether or not the ensuing trade war will produce successful outcomes. (Managerial economics a problem-solving approach 5th ed by Luke Froeb)