Question
Games and decisions are often construed as same thing. However, in Game Theory, they are treated fundamentally different. Determine which of the following situations describe
Games and decisions are often construed as same thing. However, in Game Theory, they are treated fundamentally different. Determine which of the following situations describe 'games' and which describe 'decisions'. In each case, indicate what specific features of the situation caused you to classify it as you did. A) A group of grocery shoppers in the dairy section, each choosing a flavor of yogurt to purchase. B) A pair of teenage girls choosing dresses for their prom event. C) A college student considering what type of postgraduate education to pursue. D) The New York Times and the Wall Street Journal choosing the prices for their online subscriptions this year. E) A presidential candidate picking a running mate.
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