Loading...

Investigating the Application of Game Theory in Pricing and Market Analysis

Mohammadiha, Hamid Reza | 2023

55 Viewed
  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 56458 (01)
  4. University: Sharif University of Technology
  5. Department: Industrial Engineering
  6. Advisor(s): khashkhashi Moghaddam, Shokraneh; Talebian, Masoud
  7. Abstract:
  8. Game theory, renowned for its transformative impact on economic theory, has often remained on the periphery of strategic decision-making within businesses, primarily due to its inherent mathematical complexity. This research offers a novel perspective to address this challenge, particularly in the realm of strategic pricing and revenue management. When analyzing strategic positions becomes challenging due to structural or informational complexities, this study proposes a strategic incorporation of these dimensions into a serious gaming framework. By distilling complex market dynamics into key modeling parameters, an environment closely mirroring real-world scenarios is created. In this innovative environment, an established algorithm or artificial intelligence acts as a player alongside one or more human decision-makers, facilitating the simultaneous testing of various economic policies and behaviors. By empirically uncovering equilibrium strategies within this gaming framework, this approach identifies optimal business responses in the face of real economic challenges. Beyond its practical utility, this serious gaming approach not only infuses an element of enjoyment but also fosters teamwork and collaboration. Ultimately, this approach, rooted in serious game design, transcends the traditional confines of economic and management concepts, ushering them from dusty library shelves onto the dynamic stage of real-world application, where they can be actively tested and refined
  9. Keywords:
  10. Revenue Management ; Game Theory ; Agent Based Simulation ; Serious Game ; Strategic Pricing ; Capital Market Analysis ; Capital Market Analysis

 Digital Object List

 Bookmark

No TOC