"We will have to have a close and continuous tactical and strategic interaction," he said.
Game theory is a branch of applied mathematics that considers strategic interactions between agents, one kind of uncertainty.
Game theory and models of strategic interaction have largely replaced kinked demand to explain price dislocations and slowly adjusting prices.
Game theory is a mathematical theory that studies the strategic interaction between players, which are usually organized into a friend group and an enemy group.
Economic techniques include price theory, which evaluates strategic interaction between actors.
What he discovered was a way to predict the outcome of virtually any kind of strategic interaction.
His goal was to understand the general logic of strategic interaction, from military battles to price wars.
Where social influences apply there are four possible alternatives for strategic interaction that exist for the competitors.
However, more recently models of cohesion have been applied to other phenomena characterized by stress, uncertainty, and the strategic interaction of groups.
Game theorists use the Nash equilibrium concept to analyze the outcome of the strategic interaction of several decision makers.
