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Illustrate how transactions cost economics and game theory can be used to illustrate the inter-dependencies: Strategy and Competition Essay, TUM, UK

Illustrate how transactions cost economics and game theory can be used to illustrate the inter-dependencies, that is, the action-reaction sequence of events, between players in a market-as-a-game as they make various strategic choices to develop a winning strategy. Use various examples of games and applications to real companies to support your answer.

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