3. Games People Play

It is important for marketers to understand the influence of game theory on social location marketing. Although I have no intention of providing a complete psychology lesson in game theory, I do believe that without a chapter on the topic, this book would be lacking in its completeness.

Game theory is a subset of economic theory that attempts to offer explanations of interactions between human beings and between human beings and inanimate objects that surround them. Specifically, game theory attempts to use math to predict an individual’s behavior in strategic situations, or games, in which an individual’s success in making choices depends on the choices of others. These explanations are used across multiple disciplines, ...

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