Modeling rationality in marketing decision-making with game theory

Article Abstract:

Game theory may be used to gain insight into interfirm competition and the marketing decision-making process. This paper is aimed at the reader unfamiliar or only vaguely familiar with game theory and begins with a review of game theory terminology useful to marketing applications. Attention then focuses on the meaning of rational behavior in less-than-perfect conditions, which is a critical issue in the application of game theory to practical business situations (what may appear to be irrational behavior under conditions of complete information may be reasonable given the complex competitive environment typical of marketing decision-making situations). The paper concludes with an appraisal of the use of game theory as a decision-making model for managers. (Reprinted by permission of the publisher.)

Usage, Competition (Economics), Game theory

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The comparative test in marketing research and theory development

Article Abstract:

The comparative test has traditionally been viewed as a theoretical and methodological technique that was useful for making rapid advances in the development of marketing as a science. Enthusiasm for the comparative test is rooted in logical empiricism. Unexplored implications for the use of the comparative test in marketing are offered from the sophisticated methodological falsificationist and the social constructionist perspectives. A proposed solution to the problems that are created from using the comparative test in the traditional manner is presented. The solution proposed is relevant to methodology in science in general and should aid research and the development of theory in marketing. (Reprinted by permission of the publisher.)

Marketing, Testing, Tests

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