THE ROLE OF GAME THEORY IN ECONOMICS FOR FUTURE CORPORATE PURPOSE: AN OVERVIEW

Abstract

This research aims to determine the role of game theory in economics, specifically in the area of understanding the future corporate purpose. Game theory is a discipline with numerous applications and is used to create a theoretical framework or strategy to help solve decision-making situations. A general overview of game theory will be discussed along with its important aspects. The method that will be utilized is extracting information from published papers from multiple sources, conducted through several stages. By determining the relationship of corporate purpose to economics, the use of game theory in economics will be discussed in more detail through two relevant applications: economic games and voting theory. The results are that both economic games and voting theory are theoretically feasible for future corporate purpose application, with indirect support from practical applications already conducted. This research will help guide corporations in developing strategies to have a meaningful corporate purpose