the concepts of game theory with international trade and tariffs


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. Discuss with your classmates  whether or not the ensuing trade war will produce successful outcomes.

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