Game Theory in Management: Modelling Business Decisions and their Consequences

Game Theory in Management: Modelling Business Decisions and their Consequences

by Michael Hatfield

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Architects and engineers can build models to test their ideas – why not managers? Game theory can be used to evaluate rival technical approaches to solving managerial problems in order to discover the most effective solutions. While the topic may seem complex, Game Theory in Management is a readable and fast-paced book; readers will come away with an entirely new perspective on the objectives, tactics, even purpose of management, and ways of evaluating the selected strategies and decisions of those within the team, inside the macro organization, and among competitors. Easily-employed tests for the validity and efficacy of management information systems are also addressed, as are those environments where cartage schemes can be most effective, and where they are not. In the areas of asset, project, and strategic management, Game Theory in Management is certain to become a game-changer.

Product Details

ISBN-13: 9781409459408
Publisher: Ashgate Publishing Ltd
Publication date: 09/28/2012
Sold by: Barnes & Noble
Format: NOOK Book
File size: 3 MB

About the Author

Michael Hatfield, PMP, CCC, EVM, is probably best known as the author of the long running column in PMNetwork magazine, Variance Threshold. Besides PMNetwork, his work has appeared in the Project Management Journal, Cost Engineering, Gantthead, People on Projects, The Measurable News, and even in the Nuclear Weapons Journal. He is the author of Things Your PMO Is Doing Wrong (PMI Publishing, 2008). He has worked as an entry-level technician for the Air Force Weapons Laboratory's Electro-Magnetic Pulse (EMP) test sites, as the director of a National Laboratory's Project Management Office overseeing a budget of $1.3 Billion (USD), and many very interesting jobs in-between. Michael can be reached at, and software solutions based on the theories put forth in this book are available at

Table of Contents

Contents: Part I Win Using the Rules of the Game: Chess openings and risk management; Introduction to game theory and a code of nature; Game theory and cartage schemes; Network theory and games; Win using the rules of the game. Part II The Upper Limit: Deconstructing game theory; The pieces move like this…; De-constructing risk management; On the limits of knowledge and management information. Part III The Structured Solution: Managing to the corner cube; Corner cubes and robustness; Strategic management and the rehabilitation of game theory and risk management; Life, the universe, and everything; Index.

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