Nash equilibrium is when two people or groups have a choice and if they both make a greater choice they will both reach the goal or make a ton of money. If one makes a god choice and the other plays it safe on makes more than the other if they both play it safe than little is gained but hopefully everyone gets something.

Game theory is the strategy of making the better choice. This can be applied in war business and other things.

Prisoner’s dilemma is when two prisoners are affected by the choice of the other as much as their own this makes it more likely that prisoners will plead guilty.

                The way to get the best score is to always go for the higher of the scores stealing typically leads to loss. The only way to win was to cooperate all the time. If you steal you break the trust and then both people lose. But if both cooperate both achieve more. Now if one made a bad choice every time than one could just dominate but if they have some intelligence than you both need to be a team.

History stores competing for customers

Government they try to figure out what the other party is doing

Economic competing for customers

Sociology how a group of people will think

Psychology how an individual will think

Every day life how others react to what I say

                I loved the oil pricing activity we had to think like the other team and see if they were lying or if they are telling the truth. It was fun until they just went the low one to win or tie and then it was lame I also hated when I betrayed my team and no team believed me. I give it an 8 because of the tearing the class apart but everything else was great. Always have a negotiation after every round.