Game Theory

One of the key ingredients for successful organisations in the new economy lies in the creation of partnerships and collaborative ventures with players in different and the same industries.

The concept of business relationships between organisations became particularly prominent at the end the 20th century when the concept of game theory came to the fore.

Game theory emphasised that participants within an industry may be able to increase the industry’s added value and, or the financial profits, by collaborating rather than competing…

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