Game Theory: The Business Tool That Isn't

08/15/2005Peter G. Klein

Game theory can be fun and interesting. It's central to current mainstream research in industrial organization and corporate strategy. It's been taught to a generation of MBA students. Unfortunately, according to FastCompany, nobody in business actually uses it.

(Hat tip: Nicolai Foss.)

Author:

Contact Peter G. Klein

Peter G. Klein is Carl Menger Research Fellow of the Mises Institute and W. W. Caruth Chair and Professor of Entrepreneurship at Baylor University's Hankamer School of Business.

Load Comments

Statism Is Destroying Real Wages

Daniel Lacalle

If even in the years when the mainstream said that there was “no inflation,” we all saw costs rise well above real wage growth, imagine what is happening now.

The Fed Backtracks on Future Rate Hikes as Bank Failures Loom Large

Ryan McMaken

The FOMC has slowed down in its monetary tightening over the past two months, and at Wednesday's press conference, Fed chairman Jerome Powell continued his shift to dovish territory.

The Rise of the Medical Security State

David Gordon

What happens when covid becomes the excuse for a lawless authoritarianism?

Are Bank Failures a Sign of More Trouble Ahead?

Ron Paul

Some have wrongly blamed the current bank failures on the Federal Reserve’s interest rate increases. The real problem is how the Fed encouraged the entire financial system to get addicted to easy money.

It Turns Out That Hundreds of Banks Are at Risk

Peter St. Onge

Federal authorities want us to believe that by bailing out Silicon Valley Bank, they have prevented a financial crisis. Instead, we will have a crisis with bailouts.

Meet the Writer