Instructions: Game theory is “the study of mathematical models of conflict

 

Instructions:

  • Game theory is “the study of mathematical models of conflict and cooperation between intelligent rational decision-makers (Myerson, p. 1). ” Game theory applies to a wide range of behavioral relations and is used in the science of logical decision making.  After reviewing the materials this week, write a page answering do you think game theory can help you better understand a company’s competitive external environment?  Why or why not?

Please be sure to validate your opinions and ideas with citations and references in APA format.

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References

Myerson, R.. (1991). Game Theory: Analysis of Conflict. Cambridge, MA: Harvard University Press.

 

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