Session
Management, Business and Economics
Description
Abstract
The decision making is a process which affects and includes people with vision, but to make this process more effective we have studied from the prospective of the Game Theory as an option to simplify the decision making process.
The game theory is a structural mathematic to calculate options and opportunities before individuals or institutions takes decisions. Game theory, analyzes subject’s opportunities but at the same time analyzes the responses of the opponent, furthermore there is no game with a single player that’s why we have to think also in opponent perspective.
At the beginning of last century many mathematicians have started to develop their theories about Game Theory, but John Nash was one of them who achieved to bring something new and useful for every decision maker. We use Game theory every time but businesses are the community which is most affects with decisions in daily or weekly bases.
This research for over six months in the perspective of Business Administration, at the two subjects of our study thesis Viva Fresh Store and ETC are potential companies to start using Game theory to increase their profits. While we have a lot of companies which operates in Kosovo’s market this model will be a new perspective to structure the market.
Viva Fresh Store and ETC are expressing their commitment to use Game Theory in marketing companies because that will reduce costs of marketing. But, both firms are using Game theory in most of their decisions even if they don’t know that they are taking decisions in Game Theory perspective.
Furthermore, Viva Fresh Store and ETC or other companies with same performance are collaborate when they can and compete when they must game theory will be easily used.
Keywords:
Microeconomics, game theory, market imperfection, cost benefit analysis, decision making
Proceedings Editor
Edmond Hajrizi
ISBN
978-9951-550-47-5
Location
UBT Kampus, Lipjan
Start Date
30-10-2021 12:00 AM
End Date
30-10-2021 12:00 AM
DOI
10.33107/ubt-ic.2021.526
Recommended Citation
Uka, Ardian and Krasniqi, Veton, "STRATEGIC DECISION MAKING “Game Theory” Case study: “Viva Fresh Store and ETC market”" (2021). UBT International Conference. 550.
https://knowledgecenter.ubt-uni.net/conference/2021UBTIC/all-events/550
Included in
STRATEGIC DECISION MAKING “Game Theory” Case study: “Viva Fresh Store and ETC market”
UBT Kampus, Lipjan
Abstract
The decision making is a process which affects and includes people with vision, but to make this process more effective we have studied from the prospective of the Game Theory as an option to simplify the decision making process.
The game theory is a structural mathematic to calculate options and opportunities before individuals or institutions takes decisions. Game theory, analyzes subject’s opportunities but at the same time analyzes the responses of the opponent, furthermore there is no game with a single player that’s why we have to think also in opponent perspective.
At the beginning of last century many mathematicians have started to develop their theories about Game Theory, but John Nash was one of them who achieved to bring something new and useful for every decision maker. We use Game theory every time but businesses are the community which is most affects with decisions in daily or weekly bases.
This research for over six months in the perspective of Business Administration, at the two subjects of our study thesis Viva Fresh Store and ETC are potential companies to start using Game theory to increase their profits. While we have a lot of companies which operates in Kosovo’s market this model will be a new perspective to structure the market.
Viva Fresh Store and ETC are expressing their commitment to use Game Theory in marketing companies because that will reduce costs of marketing. But, both firms are using Game theory in most of their decisions even if they don’t know that they are taking decisions in Game Theory perspective.
Furthermore, Viva Fresh Store and ETC or other companies with same performance are collaborate when they can and compete when they must game theory will be easily used.