California Miramar University Game Theory – Description
Your topic for this week is ” Game theory in strategic management”. How managers use the Game theory framework in making strategic decisions for their organization?
Bring a case that shows a particular application of game theory in the field of strategic decisions of a company. Make sure that your case is not the same as your friends in their posts.
PROFESSOR’S GUIDANCE FOR THIS WEEK’S RD:
Increasingly, companies are utilizing the science of Game Theory to help them make high-risk/high reward strategic decisions in highly competitive markets and situations. Modern Game Theory has been around for over 50 years old and has demonstrated an ability to generate the ideal strategic choice in a variety of different situations, companies, and industries. Game Theory principles are leveraged through the use of strategy games. These games are well-defined mathematical scenarios that encompass a set of players (individuals or firms), a set of strategies available to those players, and a payoff specification for each combination of strategies.
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Be sure to proofread carefully (Use Grammarly – the premium version! Make sure your writing score is more than 90) and cite your sources (APA 7.0 ed).
NOTE:
1. Post your 500-700 word answers to earn a maximum of 14 points.
2. Offer at least two 300-400 word comments (replies) to posts from your peers’ discussions to earn a maximum of 8 points each (total 16 points)
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