Which of the following is a valid critique of the use of game theory in economics?
A. Payoffs to players may be difficult to measure.
B. Players may not have complete information about each other's payoffs.
C. Game theory assumes rational players.
D. All of the above.
Answer:D
Which of the following is a valid critique of the use of game theory in economics?
A. Payoffs to players may be difficult to measure. B. Players may not have complete information about each other's payoffs. C. Game theory assumes rational players. D. All of the above.