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Game theory faces several issues, including the challenge of accurately modeling real-world scenarios due to the complexity of human behavior and the difficulty in predicting outcomes when players have incomplete information. Additionally, assumptions of rationality may not hold true in practice, leading to unexpected results. Moreover, ethical considerations arise in competitive scenarios, as strategies can lead to suboptimal social outcomes, such as the "prisoner's dilemma." Lastly, the computational complexity of finding equilibria in larger games can be a significant obstacle.

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