Game Theory
What is Game Theory?
Game theory is more than just sound strategic planning. Traditionally, strategic planners have gathered mountains of information and relied on the experience, knowledge, wisdom, and intuition of decision makers to chart the correct path forward. While sometimes successful, frequently the process falls short due to information overload and a failure to accurately assess the motivations, and likely reactions, of all of the players.
Game theory, sometimes called scientific decision making, is the branch of mathematics that deals with the analysis of strategic situations. It is a structured process that focuses the process on the mindset of all the players — competitors, suppliers, customers, regulators. Decision makers can use the power of game theory to better understand the implications of their actions against the competitive landscape and identify ways to influence other players' actions. It allows organizations to identify, from many possible scenarios, the most likely responses and craft a strategy that yields a competitive advantage.
Consulting Services
Meristem consultants work collaboratively with decision makers, analysts, and technical experts to bring the power of game theory to your strategic planning problems in areas such as:
- Mergers and acquisitions
- Competitive positioning
- Cost control
- Supply chain
- Inventory reduction
- Auctions
- Government regulation
Training Services
In addition to consulting, Meristem offers two unique and powerful programs that use game theory to help your firm gain a real and lasting strategic advantage.
For more information on consulting and learning solutions based on game theory, please e-mail or call for information.
