Describe the concept of game theory and a pay-off matrix

Reference no: EM13239752

During the 70's and 80's the goverment of many countries in Europe and North America banned the advertisement of cigarettes on televisions. Suprisingly, this attracted little protest from the cigarette manufacturer's.
Explain using the concept of game theory and a pay-off matrix why it was the best strategy from the point of view of the manufacturers of cigarettes not to use theis political clout to oppose this ban?

Reference no: EM13239752

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