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Track: INFORMS Prizes & Special Sessions

Game Theory for Business

Monday, April 12, 2:40-3:20pm EDT

Companies are regularly interacting with other companies and need to decide whether to compete or cooperate with others and how to do so. Game theory is the leading approach for tackling such issues, and this session is designed to help participants understand how to practically apply game theory to business situations with influence issues—e.g., negotiations, strategic alliances, competitive risk. The session will provide a brief overview of game theory and its practical application, and preview the newest INFORMS Professional Development course, Game Theory for Business.

Session Outcomes – participants will learn:

  • Where and how to apply game theory to develop strategy and tactics in a disciplined, practical way.
  • How game theory adds value to business situations with influence issues (e.g., negotiations, strategic alliances, competitive risk).
  • Details of the new Game Theory for Business course presented by INFORMS Professional Development.

 

 

Paul Papayoanou image

Paul Papayoanou

Paul Papayoanou

Founder and Managing Director at Dragonfly

Dr. Paul Papayoanou is the founder and Managing Director of Dragonfly, a strategy consultancy specializing in applications of decision analysis and Strategic Gaming, the novel and practical game theory approach for business strategy and negotiations that he developed. With more than 20 years of strategy consulting experience, he has worked on nearly 200 strategy and negotiation engagements, helping large and small companies in various industries to capture billions of dollars in value. He also helped to instill game theory capabilities at Chevron and led efforts to improve decision analysis and decision quality at Shell. He has delivered training to over a thousand business professionals and lectured on game theory and business at Harvard Business School, Rice’s MBA program, executive education at Stanford, and at several other universities. Dr. Papayoanou has been a Fellow of the Society of Decision Professionals since 2011 and is the author of Game Theory for Business.