Economics Homework Help. CSU Game Theory a Hypothesis on Trade and Tariffs Discussion
I’m studying for my Economics class and need an explanation.
Incorporate the concepts of game theory with international trade and tariffs. Set up two payoff matrices. Set up the first payoff matrix such that the outcome will be harmful to both countries. Set up the second payoff matrix such that the outcome will be beneficial to the United States. Evaluate the two matrices using current actions by each country to see which matrix is most likely correct.
