Uses ‘The Prisoner's Dilemma’ (attributed to Albert Tucker) to explain game theory — showing achieving co‐operation is a fundamental management problem, which reveals itself clearly in alliances and joint ventures — each firm enters a joint venture unsure of how the other will behave. Concludes that any joint venture set up for a limited period will cause strategic manoeuvring towards the end of its life — and if that is likely to be the case, the manoeuvring may well start straight away.
The Antidote – Emerald Publishing
Published: Jul 1, 1997
Keywords: Operational research; Business games; Games