Applying Game Theory to Strategy

Prior to engaging in this discussion, please read Chapter 16 in the text and review any relevant Instructor Guidance. It is suggested that you review the recommended articles to glean any helpful information. Imagine that you own a pharmacy in your area. One of your competitors launches a “We will not be undersold” campaign, which promises consumers 150 % of any difference between its prices and the advertised prices of other pharmacies. Evaluate the social issues in your community as well as the economic culture that is influencing this type of pricing competition. Develop and describe a microeconomic model that is responsive to the service demands of your market. Based on your conclusions, how would you react to this situation and with what business strategy would you approach this? How might you apply game theory to the creation of your strategy?Guided Response: Read several of your classmates’ posts and provide a substantive written response to at least two of your peers. Discuss whether or not you agree with the conclusions provided in your classmate’s initial post. Choose one aspect with which you disagree and offer an option of how game theory could illustrate a coherent framework to best react to a competitor. Explain why you believe this is a better option than what your classmate already proposed, and provide at least one scholarly reference to support your position. You must also comment specifically on one aspect of your classmate’s post with which you agree. Provide a brief explanation as to why the proposed course of action would be effective, and support your opinion and assertions with research. In addition to responding to at least two other students’ posts, it is recommended that you reply to at least one person who responded to your original post by either respectfully defending your conclusion or by listing how you might implement the changes your classmate suggested.

Don't use plagiarized sources. Get Your Custom Essay on
Applying Game Theory to Strategy
For as low as $13/Page
Order Essay
Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
error: Content is protected !!
Live Chat 1 763 309 4299EmailWhatsApp

Order your essay today and save 20% with the discount code FREELANCE