You are sure that the best choice is 49. Hurray, victory? Unfortunately, if you make such a choice, you will definitely lose. Your opponent has guessed the number 48. In game theory, the winner is the one who can think through the opponent’s logic not one step, but several steps ahead. Sure, it sounds a bit confusing. And at one point you can outsmart yourself and make a mistake. But now you understand exactly what actions and conditions turn almost any situation into a game. In the end, the concept of “game” hides a situation in goals, thoughts, behavior and strategy of your opponents.
The player chooses the most optimal solution
Based on the probable intentions of the opponent. Bringing Game Theory morocco phone number library to Life: Business and Competition Game theory is common among managers, marketers and specialists. It helps make the most logical, rational and optimal decisions in various areas: cooperation or, on the contrary, struggle with competitors; search for partnerships; determination of pricing policy; geographic expansion – opening of new markets; selection of employees and managers (hello to Steven Ballmer from Microsoft.
All such business processes and situations
Entrepreneurs face daily are connected with choosing one single, most try our website creation service successful and profitable solution from dozens of alternatives. This is what game theory is for. Let’s give one very interesting example directly related to business. We will talk about competitive struggle, namely about the confrontation between two IT corporations – TELEX and the well-known IBM.
When TELEX first announced their products
Were coming to market, IBM already had a fairly strong position there. The ws data former wanted to grab their “piece of the pie”, and IBM, of course, did not want to share the profits and give up their positions. Then, after the TELEX announcement, an emergency meeting was held at IBM to discuss measures to counteract the new competitor. The outcome of the meeting was as follows: The plan is great, but TELEX also applied game theory in practice and thought everything through one step ahead.