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What is Game Theory

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.

More companies — perhaps even your competitors — are tapping into the power of game theory. Frank Koch, an analyst for oil giant Chevron, calls game theory the company's "secret strategic weapon." (Read a short case study on how a software giant used Game Theory to outsmart a competitor.)

Meristem consultants work collaboratively with your 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