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Give a real-world example of an activity where yourpayoff (utility) is not determined just by your own actions, but also on the actions of others.
Give a real-world example of an activity where yourpayoff (utility) is not determined just by your own actions, but also on the actions of others.
- Be specific in describing how the actions of others impacts your utility.
- Describe the set of actions the other person may take (their strategies)
- Describe the set of actions you may take (your strategies)
- Include at least two strategies for the other person and at least one possible strategy for yourself.
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