Game Theory in Strategic Management-Dynamic Games. Theoretical and Practical Examples
Game Theory provides an analysis tool for describing the decision-making process of one or more players, their behavior when there are plenty of possible outcomes. Strategic behavior is a generic term that designates all concerted and consistent actions promoted by an enterprise in order to influenc...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2018-12-01
|
| Series: | Management Dynamics in the Knowledge Economy |
| Online Access: | http://www.managementdynamics.ro/index.php/journal/article/view/283 |
| _version_ | 1811275794668847104 |
|---|---|
| author | Mihail BUSU |
| author_facet | Mihail BUSU |
| author_sort | Mihail BUSU |
| collection | DOAJ |
| description | Game Theory provides an analysis tool for describing the decision-making process of one or more players, their behavior when there are plenty of possible outcomes. Strategic behavior is a generic term that designates all concerted and consistent actions promoted by an enterprise in order to influence the competitive environment or at least to adapt to its evolution. This paper aims at exploring the real potential of strategic management based on dynamic game theory decisions and illustrates that the usefulness and power of game theory applied in strategic management lie in its ability to provide insights on competitive climate and strategies. In this paper, we will investigate some potential contributions of game theory to strategic management, especially with regard to applications in individual industries. The examples presented in the second part of the paper are based on strategic management decisions that involve dominant strategies. |
| first_indexed | 2024-04-12T23:45:18Z |
| format | Article |
| id | doaj.art-e016a99ca1ed4c0ebcab0e35fd6a12f9 |
| institution | Directory Open Access Journal |
| issn | 2286-2668 2392-8042 |
| language | English |
| last_indexed | 2024-04-12T23:45:18Z |
| publishDate | 2018-12-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Management Dynamics in the Knowledge Economy |
| spelling | doaj.art-e016a99ca1ed4c0ebcab0e35fd6a12f92022-12-22T03:11:53ZengSciendoManagement Dynamics in the Knowledge Economy2286-26682392-80422018-12-0164645654194Game Theory in Strategic Management-Dynamic Games. Theoretical and Practical ExamplesMihail BUSU0Bucharest University of Economic StudiesGame Theory provides an analysis tool for describing the decision-making process of one or more players, their behavior when there are plenty of possible outcomes. Strategic behavior is a generic term that designates all concerted and consistent actions promoted by an enterprise in order to influence the competitive environment or at least to adapt to its evolution. This paper aims at exploring the real potential of strategic management based on dynamic game theory decisions and illustrates that the usefulness and power of game theory applied in strategic management lie in its ability to provide insights on competitive climate and strategies. In this paper, we will investigate some potential contributions of game theory to strategic management, especially with regard to applications in individual industries. The examples presented in the second part of the paper are based on strategic management decisions that involve dominant strategies.http://www.managementdynamics.ro/index.php/journal/article/view/283 |
| spellingShingle | Mihail BUSU Game Theory in Strategic Management-Dynamic Games. Theoretical and Practical Examples Management Dynamics in the Knowledge Economy |
| title | Game Theory in Strategic Management-Dynamic Games. Theoretical and Practical Examples |
| title_full | Game Theory in Strategic Management-Dynamic Games. Theoretical and Practical Examples |
| title_fullStr | Game Theory in Strategic Management-Dynamic Games. Theoretical and Practical Examples |
| title_full_unstemmed | Game Theory in Strategic Management-Dynamic Games. Theoretical and Practical Examples |
| title_short | Game Theory in Strategic Management-Dynamic Games. Theoretical and Practical Examples |
| title_sort | game theory in strategic management dynamic games theoretical and practical examples |
| url | http://www.managementdynamics.ro/index.php/journal/article/view/283 |
| work_keys_str_mv | AT mihailbusu gametheoryinstrategicmanagementdynamicgamestheoreticalandpracticalexamples |