Game Theory (Prisoner’s Dilemma) | From A Business Professor

Game theory is one of the most powerful tools for analyzing strategic decision-making in a variety of business contexts. It provides a framework for modeling the interactions between decision-makers, or players, and predicting their behavior in different scenarios. So what is game theory? Are there some classic examples? Who developed it and how to apply it in the business world? In this video, I will discuss these questions with you.