Game Theory in Management:Modelling Business Decisions and their Consequences

by: Michael Hatfield (Author)

Publisher: Routledge

Edition: 1st

Publication Date: 2012/5/28

Language: English

Print Length: 214 pages

ISBN-10: 1409442411

ISBN-13: 9781409442417

Book Description

Architects and engineers can build models to test their ideas - why not managers? In Game Theory in Management:Modelling Business Decisions and Their Consequences, author Michael Hatfield presents a series of mathematically structured analogies to real-life business and economic interaction scenarios, and then, using mode game theory, he shows how to test common managerial technical approaches for their effectiveness. His results are astonishing:if game theory is correct then many commonly-held and taught management approaches and techniques are not only less effective than thought, they are actually detrimental in many areas where they are held to be beneficial. Game Theory in Management also examines managerial implications from network theory, cartage schemes, risk management theory, management information system epistemology, and other areas where the quantification and testing of business decisions can be employed to identify winning and losing stratagems.

About the Author

Architects and engineers can build models to test their ideas - why not managers? In Game Theory in Management:Modelling Business Decisions and Their Consequences, author Michael Hatfield presents a series of mathematically structured analogies to real-life business and economic interaction scenarios, and then, using mode game theory, he shows how to test common managerial technical approaches for their effectiveness. His results are astonishing:if game theory is correct then many commonly-held and taught management approaches and techniques are not only less effective than thought, they are actually detrimental in many areas where they are held to be beneficial. Game Theory in Management also examines managerial implications from network theory, cartage schemes, risk management theory, management information system epistemology, and other areas where the quantification and testing of business decisions can be employed to identify winning and losing stratagems.