Economic Games

Economic games are structured scenarios used to study decision-making and strategic interactions among individuals or groups. They illustrate how people choose to allocate resources, cooperate, or compete, often involving elements such as incentives, trust, and negotiation. Examples include the Prisoner's Dilemma and the Ultimatum Game, where players must make choices that affect both their own outcomes and those of others. By analyzing these games, researchers gain insights into human behavior in economic contexts, helping to understand broader economic principles and strategies employed in real-world situations.