Application Of Game Theory

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As Day By day competition in every business market is increasing then before. So now executive management or executive need more and much accurate and brief information about the market and require accurate data to take short and long term decision. Executive are using every source of information which is available to them; but still executive are not getting better results as expected because there support systems are not change according to their requirement so they can evaluate the data and take decision according to that. For that I suggest that as we are using GAME THEORY in developing different type of game we can use also it in developing Support System for them because as we now games are developed according every thought which
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Game theory is applied to conditions in business, engineering and mechanical. It will view as a different side of science that deals with every field, and with a relatively larger amount of producers and consumers. In few last years, political economy has come up as a mixture of game theory and equilibrium theory where private sector Economy is presented by equilibrium theory, while voting conduct and the motivator of governments is examined utilizing diversion hypothesis. Issues contemplated incorporate assessment arrangement, exchange approach, and the part of worldwide exchange…show more content…
Let’s take an example in which we can say that there are 2 players which represent two different organization and as like to persons or players have some distinct specialties same as all organization also have these quality and same as we predict how there two players perform we also find out that how will they two or more than two organization will perform or take there long and short term decisions. As we study 2 persons will take decision and perform same as that we can pursuit organization and find out how will they take their decision and according to this an organization will decide their long term and short term target because now using the game theory we will know all the possibility of decisions which an organization can take buy this we can take batter decision for our organization then we can perform better in the market then other organizations and it will also increase the profit of our organization and then it will take our organization to the top. We will use game theory in Executive support system to take better output from MIS, DSS and KMS and use them in the ESS it will also help in the develop a strategy for a particular opponent organization and perform batter then in the
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