Game theory and its business applications

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The paper illustrates the use of real options and game theory principles to value prototypical investment projects and capture important competitive/strategic dimensions in a step-by-step analysis of investment decisions (options) under uncertainty. It first illustrates the application of real options principles to a mining concession and to an R&D program. It then provides examples from innovation cases and uses basic game theory principles to discuss other strategic and competitive aspects, especially applicable to oligopolistic industries like consumer electronics. The issue of whether (and when) it is optimal to compete independently or coordinate/collaborate (e.g., via joint R&D ventures or strategic alliances) is given particular attention.

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Evolution of Supply Chain Management

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Backward induction is a technique to solve a game of perfect information. It first considers the moves that are the last in the game, and determines the best move for the player in each case. Then, taking these as given future actions, it proceeds backwards in time, again determining the best move for the respective player, until the beginning of the game is reached.

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IEEE Communication Survey and Tutorials

In order to cater for the overwhelming growth in bandwidth demand from mobile Internet users operators have started to deploy different, overlapping radio access network technologies. One important challenge in such a heterogeneous wireless environment is to enable network selection mechanisms in order to keep the mobile users Always Best Connected (ABC) anywhere and anytime. Game theory techniques have been receiving growing attention in recent years as they can be adopted in order to model and understand competitive and cooperative scenarios between rational decision makers. This paper presents an overview of the network selection decision problem and challenges, a comprehensive classification of related game theoretic approaches and a discussion on the application of game theory to the network selection problem faced by the next generation of 4G wireless networks.

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Wiley Interdisciplinary Reviews: Computational Statistics