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The use of game theory’s mathematical models—which analyze strategic interactions between rational decision-makers—to solve real-world problems in economics, business, politics, and biology. It moves beyond the textbook “Prisoner’s Dilemma” to design auctions, negotiate treaties, price products, or even schedule airport security checks. Practitioners don’t just predict what players will do; they design the rules of the “game” itself to incentivize better outcomes, like creating a market that naturally reduces pollution or a contract that aligns an employee’s interests with the company’s.
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