Abstract
Game theory plays an important role in strategic decision making. Every business situation involves competition. In such situations, taking effective decisions is vital since it impacts the sales and consequently profit-earning potentials of the organization. In this chapter, we gain an insight into the world of game theory and terminologies associated with it. We will understand the different principles of game theory and its limitations. We will also classify games and discuss the associated strategies. There are ample illustrations with solutions that will help the reader grasp the concepts better.
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© 2014 Springer India
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Srinivasan, R. (2014). Game Theory. In: Strategic Business Decisions. Springer, New Delhi. https://doi.org/10.1007/978-81-322-1901-9_6
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DOI: https://doi.org/10.1007/978-81-322-1901-9_6
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Publisher Name: Springer, New Delhi
Print ISBN: 978-81-322-1900-2
Online ISBN: 978-81-322-1901-9
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