The classic game is the Prisoners’ Dilemma - this is
shown in the tables below:
A range of oligopoly games have been developed in recent
years. Game theory can be
applied to both price and non-price competition within an oligopoly, e.g.,
huge sums on an advertising campaign against rival firms?
a price war or keep prices constant
in costly research and development or not.
theory by Chris Price and Dominic Legg