GAMES: Game Theory and the Evolution of Strategic Thinking

Abstract

This chapter is an abridged version of “Game theory and the evolution of strategic thinking,” Human Systems Management 16, pp. 63–75, 1997. The idea that the study of game theory could help managers to think better about strategic problems is re-interpreted with reference to various extensions and adaptations of that theory. An “adapted” conceptual model of an Ultragame is then set out, in which the players are plurally rational strategic-entities. Conceptual models of this type can help managers to augment their language, their ideology and their integrity. Compared to the formal mathematical extensions of game theory, which have found but a few business applications, the adapted conceptual models are more directly relevant to contemporary business problems such as those involving the players’ boundaries and identities, as well as their likely future problems and others’ problems.