Applying Game Theory To Strategy

Applying Game Theory To Strategy- APA- 2 REFERENCES, get homework help at Top Grade Essay Writings.

Applying Game Theory To Strategy

Applying Game Theory To Strategy- APA- 2 REFERENCES

 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? 

Helpful Articles

  1. Levaggi, L., & Levaggi, R. (2010). Strategic costs and preferences revelation in the allocation of resources for health care. International Journal of Health Care Finance and Economics, 10(3), 239-256. doi:http://dx.doi.org.proxy-library.ashford.edu/10.1007/s10754-010-9079-x. Retrieved from the EBSCOhost database.
  2. Westhoff, W. W., Cohen, C. F., Cooper, E., Corvin, J., & McDermott, R. J. (2012). Cooperation or competition: Does game theory have relevance for public health? American Journal of Health Education, 43(3), 175-183. Retrieved from the ProQuest database.