+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Financial Analytics: Science and Experience
 

The game theory application to strategic decision-making: A Russian company case study

Vol. 9, Iss. 33, SEPTEMBER 2016

PDF  Article PDF Version

Received: 22 April 2016

Received in revised form: 28 June 2016

Accepted: 25 August 2016

Available online: 19 September 2016

Subject Heading: MATHEMATICAL ANALYSIS AND MODELING IN ECONOMICS

JEL Classification: C02, C70, L11

Pages: 52-60

Dem'yanova O.V. Kazan Federal University, Kazan, Republic of Tatarstan, Russian Federation
89053185835@mail.ru

Rashitova A.R. Kazan Federal University, Kazan, Republic of Tatarstan, Russian Federation
Nensis222@mail.ru

Importance In their strategic decision-making, Russian companies have opted for the game theory more often for the recent years. However, there are few relevant researches to determine whether they use an efficient option. This research becomes important as Russian companies get more and more interested in the game theory to take their strategic decisions, considering growing competition, risk and uncertainty in the market, thus giving grounds to believe that decisions, if taken on a mathematical basis, will be effective and optimal.
Objectives The research studies whether it is effective for Svyaznoy Company to resort to the game theory in order to set an optimal price and how many smart phones of two types they should purchase for 2016.
Methods We applied mathematical and marketing methods of research.
Results We computed the precise price and volume of purchases, and determined an effective and practicable method of using the game theory.
Conclusions and Relevance The game theory would be reasonable to make managerial decisions, since it encompasses, on the one hand, multiple factors of the market economy, and facilitates making mathematical computations and getting exact results. The method may be used by various industrial specialists to advance their strategic planning practices.

Keywords: game theory, strategic, decision

References:

  1. Tikhomirov S.A. [Game theory in management practice and management communications]. Menedzhment v Rossii i za rubezhom = Management in Russia and Abroad, 2013, no. 1, pp. 33–39. (In Russ.)
  2. Sigal A.V. Teoriya igr dlya prinyatiya reshenii v ekonomike [The game theory for decision-making in the economy]. Simferopol, Diaipi Publ., 2014, 308 p.
  3. Owen G. Teoriya igr: igry dvukh lits s zadaniyami, igry n lits [Game Theory]. Moscow, URSS Publ., 2008, 230 p.
  4. Williams J.D. Sovershennyi strateg, ili bukvar' po teorii strategicheskikh igr [The Complete Strategyst: Being a Primer on the Theory of Games of Strategy]. Moscow, LIBROKOM Publ., 2009, 286 p.
  5. Aleskerov F.T., Kisel'gof S.G. [The 2012 Nobel Prize winners: Lloyd Shapley and Alvin Roth]. Ekonomicheskii zhurnal VShE = The HSE Economic Journal, 2012, no. 4, pp. 433–442. (In Russ.)
  6. Goryashko A.P. [The Game Theory: From Analysis to Synthesis]. Cloud of Science, 2014, no. 1. (In Russ.) Available at: Link.
  7. Skutin M.A. [Using the tools of game theory to managerial decision-making in the economy]. Aktual'nye problemy gumanitarnykh i estestvennykh nauk = Current Issues of Humanities and Natural Sciences, 2009, no. 8, pp. 95–97. (In Russ.)

View all articles of issue

 

ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

Journal current issue

Vol. 17, Iss. 1
March 2024

Archive