Journal of Advances in Developmental Research

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Game Theory and Its Influence on Economic and Business Strategies

Author(s) Dr. Suman Jain
Country India
Abstract This paper explores the applications of Game Theory in shaping economic and business strategies within the Indian context, focusing on how strategic decision-making influences competitive behaviour, pricing, and market outcomes in various sectors. The study examines several key areas, including telecom pricing, auction design, corporate negotiations, and market entry deterrence. By analysing secondary data and applying game-theoretic models, this research highlights the strategic use of concepts such as Nash equilibrium, Bertrand competition, and limit pricing in shaping business strategies in India. Notable examples include the 3G spectrum auction (2010), which generated ₹67,719 crore, and competitive pricing strategies in the Indian telecom and aviation industries. The findings suggest that while Game Theory offers valuable insights into competitive behaviour, it faces limitations in capturing behavioural aspects, bounded rationality, and informal decision-making prevalent in India’s diverse market. The paper also discusses the challenges of empirical validation and the need for data-driven refinement in applying game-theoretic models to sectors like agriculture, healthcare, and digital platforms. Recommendations for further research include the integration of behavioural economics, policy-specific models, and public-private collaborations to better address the unique economic and social conditions of India.
Keywords Game Theory, Economic Strategy, Business Strategy, Nash Equilibrium, Pricing Strategies, Telecom Sector, Auction Design, Market Competition, Behavioural Economics, India
Field Mathematics
Published In Volume 6, Issue 2, July-December 2015
Published On 2015-07-09
Cite This Game Theory and Its Influence on Economic and Business Strategies - Dr. Suman Jain - IJAIDR Volume 6, Issue 2, July-December 2015. DOI 10.5281/zenodo.15261353
DOI https://doi.org/10.5281/zenodo.15261353
Short DOI https://doi.org/g9f9zd
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