Consider the following statements in respect of Game Theory of Policy Evaluation: The basic concepts of Game Theory model are : (i) Players in a game can be people, governments or institutions. (ii) Strategies are selected by players without anticipating the moves of other players. (iii) Players have different preferences among the possible outcomes. (iv) Payoffs are often used to represent the value of these outcomes to different players. Which of the above statement/s is / are correct ?

- Statement (i) is correct: In Game Theory, 'players' are the decision-making entities involved in the interaction. These can indeed be individuals, groups, organizations, governments, or even states. - Statement (ii) is incorrect: A core assumption in Game Theory is that players are rational and make their strategic choices by anticipating the likely moves and reactions of the other players. Decisions are not made in isolation. - Statement (iii) is correct: Players in a game typically have different objectives and hence different preferences regarding the possible outcomes of the game. - Statement (iv) is correct: 'Payoffs' are numerical representations of the utility or value that each player receives for each possible outcome resulting from the combination of strategies chosen by all players. They quantify the players' preferences.