_____ is a decision tool that helps take into account the anticipated reactions of competitors.

Question

Quizplus · Accepted Answer

Game theory is a decision tool that takes into account the potential reactions of competitors. It enables businesses to make strategic decisions with a better understanding of the potential outcomes of their actions, and the likely behavior of their rivals. By analyzing the possible moves of competitors and anticipating their responses, businesses can make informed decisions that lead to a more competitive advantage. The other options listed, such as concentration ratios, Herfindahl-Hirschman index or open collusion, do not specifically address the anticipated reactions of competitors.

_____ Is a Decision Tool That Helps Take into Account