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Conclusion

In: Game Theory - Successful Negotiation in Purchasing

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  • Christoph Pfeiffer

    (Competitio Consulting GmbH)

Abstract

“Theory without practice is empty, practice without theory is blind.” Game theory is the mathematics of strategic interaction. Human behavior is not completely predictable, but the interplay of game theory and practice has created applications that provide clear value to their users. In practical situations, an elaborate mapping of utility functions, as is common in economics, is often not feasible. Rather, it is a matter of applying the principles of game theory and economics.

Suggested Citation

  • Christoph Pfeiffer, 2023. "Conclusion," Springer Books, in: Game Theory - Successful Negotiation in Purchasing, chapter 0, pages 131-131, Springer.
    • Handle: RePEc:spr:sprchp:978-3-658-40868-8_8
    DOI: 10.1007/978-3-658-40868-8_8
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