The practical and accessible application of Game Theory to strategic decision making

April 17, 2024

Speaker: Dave Debacker (Open Options)

Abstract:

This presentation will focus on the practical application of Game Theory to complex, multi-stakeholder, strategic decision-making. This session will be applicable to both technical and non-technical streams/attendees.

Using past project examples, Christa & Dave will share their thoughts on the experience and insights generated by using a preference-based game theory approach when dealing with highly complex, intractable problems. This involves using proven analytical methods and tools to consider the actions and reactions of key stakeholders - these could be competitors, regulators, customers, partners, suppliers, or any other party with the ability to materially impact a situation. It is important to note that this is a qualitative approach driven by challenging and constructive discussion, not cash flow modeling. The speakers will touch on the unique advantages and benefits in terms of efficiency, mitigating bias, managing uncertainty, aligning decision-making teams, and increasing decision speed. They will also explain how the synchronous and asynchronous elements work together and leverage the complementary roles of the client organization and the external consultant.

While the presentation will be based on specific examples, the speakers will pay special attention to calling out the parallels and analogies that make the process and lessons learned applicable to virtually all forms of complex, multi-stakeholder problems, regardless of industry or geography. Throughout, they will highlight how Game Theory-based decision-making fundamentally aligns with and supports Decision Quality (DQ).