All of the following are characteristics of game theory except a. payoffs that are the results of the interaction among players' strategies. b. strategies that players employ to attain their objectives. c. rules that determine what actions are allowable. d. independence among players.

The correct answer is letter D.

Explanation: The creators of the Game Theory were John von Neumann, John Nash, and Oskar Morgenstern. It is a framework for conceiving social situations among some competing players. In some respects, game theory is a science of strategy, or at least the optimal decision-making of independent and competing actors in a strategic setting.

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