Game Theory in Business

Game Theory
Knowledge Center

Best Practices

Sign up

Jaap de Jonge
Editor, Netherlands

Game Theory in Business

Issue #46 of S+B has an interview with Prof. Nalebuff, well known for bringing game theory into the realm of business. According to N. there are 2 reasons why extending game theory to business requires an intellectual leap:
1. The game of business is not a zero-sum game (the success of one company does not require others to fail).
2. There are no explicitely defined rules in business (each firm can change the game/rules).
Moreover, Nalebuf warns that the behavior of businesspeople is not always rational, and inertia can be a powerful force to overcome.

  Kim Warren
 

Game theory article by Nalebuff

BTW - the S+B article mentioned may not be easy to find, so here's a link.

Start a new forum topic

 

More on Game Theory
Summary
Forum
Game Theory vs. SWOT Analysis in the Strategy Process
Game Theory and Oligopolistic Competition
Types of Game Theory
🔥Gamification in Business and Management
What are the Uses of Game Theory? List of Usages
Can Game Theory deal with Bounded Rationality?
Using Game Theory for Making Investments
What is Dominance Theory?
Shapley Value
Best Practices
Game Theory in Business
Game Theory Cases in Strategy?
Is Business Strategy a Non-Zero-Sum Game?
Special Interest Group

Are you interested in Game Theory? Sign up for free

Notify your students

Copy this into your study materials:

and add a hyperlink to:

Link to this discussion

Copy this HTML code to your web site:

Game Theory
Knowledge Center



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2021 12manage - The Executive Fast Track. V15.8 - Last updated: 18-4-2021. All names of their owners.