Architects and engineers can build models to test their ideas - why
not managers? In Game Theory in Management: Modelling Business
Decisions and Their Consequences, author Michael Hatfield presents
a series of mathematically structured analogies to real-life
business and economic interaction scenarios, and then, using modern
game theory, he shows how to test common managerial technical
approaches for their effectiveness. His results are astonishing: if
game theory is correct then many commonly-held and taught
management approaches and techniques are not only less effective
than thought, they are actually detrimental in many areas where
they are held to be beneficial. Game Theory in Management also
examines managerial implications from network theory, cartage
schemes, risk management theory, management information system
epistemology, and other areas where the quantification and testing
of business decisions can be employed to identify winning and
losing stratagems.
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