Nokia, the Finnish mobile phone manufacturer, is getting clobbered as their market rapidly moves away from them. Recent analyst reports show that Android and iOS (Apple’s platform) based phones are rapidly gaining market share. Nokia sells neither. Nokia has a major press event in a few hours, where they will announce their smartphone strategy. I think a maximin strategy is both likely and correct.
Tag Archives: game theory
Rupert Murdoch – Zero; John Nash – One
vs.
What happens when billionaire media magnate, Rupert Murdoch, pits his idea against a Nobel-prize winning idea from the beautiful mind of economist and mathematician John Nash?
When you act on what you hope your market will do, instead of what you predict your market will do – you’re in trouble.
This is a story about understanding your market, and an example of using game theory – specifically, the Nash Equilibrium in “non-cooperative game theory” to predict market responses to your products.
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