In the language of game theory, a situation in which each person must consider how others might respond to his or her own actions is called a
A)quantifiable situation.
B)cooperative situation.
C)strategic situation.
D)tactical situation.

Question

Quizplus · Accepted Answer

A strategic situation is a game theoretic situation where each player's optimal strategy depends on the strategy of the other players. In other words, each person must consider how others might respond to his or her own actions. This is a fundamental concept in game theory. Quantifiable, cooperative, and tactical situations do not necessarily involve strategic thinking.

In the Language of Game Theory, a Situation in Which