Why do economists use game theory Discussion Expectations Respond to at least two other peer postings Be substantive and follow up on your comments and questions Do you agree or disagree and why Do you have questions based on your peers' postings Use references from readings, websites,and course activities that support your position Be sure to properly cite your references Meets Learning Objectives Compare and contrast the methods used to analyze a variety of market structures ranging from perfect competition to monopoly, the means available to achieve them, and the process by which they are pursued Students will be able to evaluate and judge how various market structures determine price, output, and profits both in the short run and long run Instructions Answer all the questions and post your answers responses by 4 28 11 59 pm reply to at least two of your peers' posts by 4 30, 11 59 pm Explain why economists use game theory Watch the 4 minute clip from Princess Bride After viewing, make a payoff matrix showing the possible plays and possible outcomes for Vizzini and Wesley Predict the outcome of the game based on your understanding of incentives and the assumption that humans act rationally and in their own self interest https youtu be 0sPVEBAtwmg

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Why do economists use game theory. Discussion Expectations Respond to at least two other peer postings.Be substantive and follow up on your comments and questions.

Why do economists use game theory.

Discussion Expectations

Respond to at least two other peer postings.Be substantive and follow up on your comments and questions. Do you agree or disagree and why?Do you have questions based on your peers' postings? Use references from readings, websites,and course activities that support your position.Be sure to properly cite your references.

Meets Learning Objectives

Compare and contrast the methods used to analyze a variety of market structures ranging from perfect competition to monopoly, the means available to achieve them, and the process by which they are pursued. Students will be able to evaluate and judge how various market structures determine price, output, and profits both in the short-run and long-run

Instructions

Answer all the questions and post your answers/responses by 4/2811:59 pm | reply to at least two of your peers' posts by 4/30, 11:59 pm.

Explain why economists use game theory.

Watch the 4-minute clip from Princess Bride. After viewing, make a payoff matrix showing the possible "plays" and possible "outcomes" for Vizzini and Wesley. Predict the outcome of the game based on your understanding of incentivesand the assumption that humans act rationally and in their own self-interest.

https://youtu.be/0sPVEBAtwmg