Ten simple lessons in strategy from the games firms play

Abstract

Simple game theory offers a number of important insights into strategic behaviour in a competitive business environment. Provides some flavour of the issues which can be addressed. Using a two‐firm framework, considers how some familiar and recurring business decisions can be analysed as games. Shows that by such means a number of apparently complex problems can be rendered tractable. The purpose of the exercise is to show that the logical processes on which game theory rests can be a valuable aid to strategy formulation.

Citation

Rothschild, R. (1995), "Ten simple lessons in strategy from the games firms play", Management Decision, Vol. 33 No. 9, pp. 24-29. https://doi.org/10.1108/00251749510098955