What is Game Theory? Here's why companies open stores next to their competitionWhen it comes to business, there's a common belief that starting a venture in an area without any competition guarantees success. This strategy is known as game theory. In game theory, this situation is known as a Nash equilibrium, where neither rival can expand their business further. According to game theory, the first company will strategically open its store in an area with high business potential after conducting thorough research.

Source: dna July 08, 2023 18:18 UTC