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Why Is Game Theory Useful in Predicting Firm Behavior

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Why is game theory useful in predicting firm behavior?


Definitions:

Specific Examples

Particular instances or cases used to illustrate a point, idea, or situation.

Intergovernmental Relations

Interactions and collaborations between different levels of government, such as local, state, and federal.

Dual Federalism Theory

A political concept describing the federal system of government as a clear division of powers between the national and state governments, with each having distinct and separate spheres of authority.

Primary Sovereignty

The concept that a state or governing body has the ultimate authority over its matters, without external influence or interference.

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