Example of game theory in real life

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It has often been difficult for psychologists and human behavior researchers to investigate our decision-making in a systematic way for this very reason. With most decisions in the real world, there are a huge number of possible actions that can be taken and almost as many extraneous factors that can influence what choice we make. Understanding this decision-making process – how we end up committing to a certain form of action – is one of the central tasks of human behavior research. Our days are shaped by decisions both big and small as we make our way through the world (“what should I wear today?”, “what should I do with my life?”).

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