Game Theoretical Modeling: An Empirical Approach to Competitive Pricing

By: Editor
February 2013 Events


Game Theoretical Modeling: An Empirical Approach to Competitive Pricing

Designing game theoretical models to describe competitive market environments is the primary focus of this workshop. Understanding how interdependent market interactions define strategic behavior and affect market health will be of utmost importance. In-workshop pricing experiments among participants will support concepts and demonstrate the impact of interconnected decision making. Case study applications highlighting firms that have successfully implemented game theoretical models to better understand their market presence and evaluate their pricing power will be discussed.

Attendees will learn:

  • How to design game theory applications to better recognize and respond to competitive pricing pressures
  • How to formulate a new means of defining differential value based on competitive advantage relative to rival firms
  • How to maintain competitive market position through interdependent pricing maneuvers
  • How to effectively communicate pricing announcements with more certain competitor response
  • How to develop appropriate games to model pricing scenarios according to market environments

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