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Investigate that "Game theory is grounded in well established theory, but it is too hard to use in developing and implementing international business strategy"
Title: Investigate that "Game theory is grounded in well established theory, but it is too hard to use in developing and implementing international business strategy"
Category: Business & Economy
Details: Words: 2728 | Pages: 11.6 (approximately 235 words/page)
Investigate that "Game theory is grounded in well established theory, but it is too hard to use in developing and implementing international business strategy"
Introduction
Since in 1994, John Nash, John Harsanyi, and Reinhard Selten were awarded the Nobel Prize in Economics (Crainer, 1996), business people had started to apply the game theory in the business strategy. Some people argued that game theory is well established theory, but it is too hard to use in developing and implementing international business strategy. In the author's opinion, even though game theory has some demerits to apply in the international business strategy, it is …showed first 75 words of 2728 total…
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…showed last 75 words of 2728 total…business strategy can be implemented by game theory.
Conclusion
Indeed, game theory has some difficulties to be understood. However, in this paper, by discussing and analyzing how game theory helps develop and implement international business strategy with cases, it is apparently wrong that game theory is too hard to use. Maybe, the models of game theory will become more complicated in future, but the way for game theory to deal with the problems is constant.
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