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Game Theory

Game theory is the study of how people or groups make decisions when the outcome for each depends not just on their own choices but on what others choose too, like in a card game where your best move depends on guessing your opponent's strategy. It gives us tools to predict and analyze behavior in situations of competition or cooperation, from business pricing wars to everyday negotiations. A key idea you'll encounter is strategic interaction, meaning each participant's decisions are shaped by anticipating how others will react.