Application to business strategy, Game Theory

 

Game Theory has evolved since its start as a thought exercise for academic mathematicians. Taught in economics departments , top business schools, and the strategic analysis, even military academies, and insight of game theory is essential to surviving in the modern economy. Simply, game theory is the study of interaction. Formulating a business strategy involve not only knowledge of your own company's strengths and weaknesses, but the strengths,  intentions, and weaknesses of competitors, customers, regulators, and allies. Whether running a traditional business, or looking to formulate a powerful new business policy, both an appreciation and understanding of game theory are necessary.

 

Posted Date: 7/21/2012 5:29:43 AM | Location : United States







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