Game Theory Real Life Example

Game Theory: Real Life Example
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Program Name or Degree Name (e.g., Master of Science in Nursing), Walden University
COURSE XXX: Title of Course
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Month XX, 202X
Game Theory: Real Life Example
Game Theory focuses on interactive decision-making, where the outcome for each participant (player) depends on the actions of others. In essence, players in the game (a negotiation, for instance) choose their strategies by considering other players' choices CITATION Buc17 \l 2057 (Buccella & Fanti, 2017). Here, the order of play tends to matter in sequential games where competitors must predict the best reply responses and counter-responses to arrive at the desired payoff.
A few years ago, when I was interning at a local fast-food chain, workers were pushing for unionization, but the leadership was holding back. Eventually, when a workers' union was finally registered amidst protest from the organization's leadership, negotiations began in which workers' issues were to be addressed before they returned to wor...