Game theory can be used to predict the outcome of a business scenario by studying the competition and their reaction to any situation that is presented. It operates on the principle that there is always a mathematical formula that will predict the outcome of a game. For instance, in a business scenario, by anticipating the moves of your competitors and understanding their strategies, you can make decisions that will give you an advantage, potentially leading to a win in the business scenario.

This question was asked on the following book summary:

## The Art of Strategy

Have you ever had to dissect a complicated business scenario and were confused as to where to begin, or how to analyze the problem? Game theory is the...

## book summary Preview

View all chevron_right

Text this question was asked on:

One of the strongest points in the book is known as the "Anticipation of Situation." The working theory is that there is always a mathematical formula that will predict the outcome of a game. The authors use an example from the television show, Survivor. Someone on the show decided they would "win by losing," and it actually worked. When the candidate on the show threw their chance to win, it set a series of events in motion that eliminated some of the competition, and allowed that candidate to eventually win the game in the end. According to the authors, by studying the competition and their reaction to any situation that is presented, it is possible to, at the very least, even the score, and at the very best, to come out on top as the winner in any contest.