Game Theory Problem

I’m trying to study for my Economics course and I need some help to understand this question.

Task: From real-life or pop-culture, take an example of strategic interaction characterized by the features of a game. Use mathematical models and relevant theories to predict the outcome of this game. Analyze whether the outcome is in line with your theoretical analysis. Make sure to discuss the limitations of the game theory analysis. If appropriate, examine the alternative approaches towards analyzing strategic interaction between individuals.

Your work has to be original: at your best knowledge, no researcher has addressed this specific problem yet in the way you are going to. Citing works analyzing similar issues is appropriate and recommended.

Instructions:

  • Formatting: Times New Roman 12, double interval.
  • The paper should be between 3000 and 3500 words long.
  • Submit in Word format
  • All the papers will be checked for plagiarism using Turnitin.
  • Use the Harvard style of referencing. The lack of proper referencing will be treated as plagiarism.
  • Makscheme:
  • Criterion
    Maximum number of points/grades
    Novelty: the problem has never been analyzed using formal Game Theory 20
    Formality: appropriate terminology, correct mathematical analysis 30
    Analysis: using an appropriate framework and appropriate analytical tools. Analysis of assumptions and limitations. 30
    Formatting and clarity: good language and formatting, well-designed graphs, etc. 20
    __________Total grade – 100

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