The rewards in game theory are the positive outcomes or benefits that a player can achieve from making a certain decision. These can include gaining a competitive advantage, achieving a goal, or maximizing profit. The risks, on the other hand, are the potential negative outcomes or losses that a player might face as a result of their decision. These can include losing a competitive advantage, not achieving a goal, or incurring a loss. The balance between these rewards and risks is what drives the decision-making process in game theory.
Have you ever had to dissect a complicated business scenario and were confused as to where to begin,...
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