John Nash, played by Russell Crowe in the film A Beautiful Mind, was one of the first to apply game theory to negotiation © Press Association Images
John Nash, played by Russell Crowe in the film A Beautiful Mind, was one of the first to apply game theory to negotiation © Press Association Images

The power of game theory in procurement

Angus Craig is director of Craig Hall Consulting
4 February 2016

The study of how people make decisions is known as game theory. And it’s a crucial tool to have in the modern business environment, especially when it comes to the art of negotiation.

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