Pricing & Negotiation Wars | Game Theory - Explained - Prof. Sumit Sarkar, XLRI Jamshedpur
Decision making is an art and a science. It requires intuition as well as method. And one of the methods used by business leaders to make strategic decisions is Game Theory. Used extensively in economics and politics alike, game theory is the science of predicting various probable outcomes of any given situation, keeping in mind all the players and how they behave. In this video, Prof. Sumit Sarkar, professor of economics at XLRI Jamshedpur, elected professor of the year by XLRI students in 2018, talks about using game theory for negotiations, to determine pricing, etc.




