Dr. Trinh Bao Ngoc Profile

Dr. Trinh Bao Ngoc

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Proceedings Article | 26 June 2024 Paper

The application of game theory to determine the optimal time to act in a competitive business decision

Nguyen Xuan Thang, Trinh Bao Ngoc, Do Thi Phuong Thao, Dinh Thi Minh Nguyet, Bui Quoc Khanh

Proceedings Volume 13188, 131880T (2024) https://doi.org/10.1117/12.3030788

KEYWORDS: Industrial applications, Data modeling, Statistical analysis, Optimal decision systems, Decision making

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As Michael et al (1998) have indicated, a newly developed competitive landscape is largely based on the technology revolution and increasing globalization. To effectively navigate in this new competitive landscape, build and maintain a competitive advantage, requires a game theory that will be building strategic flexibility. To do this, we will suggest several models in which each new model will be built based on the findings of the previous model and propose to use the results of its. Besides, there are three types of players that are considered in these models: dominant players, similar players, and lagging players. The first model shows 2 similar players in which the player’s strategies, action curves are equal and well known to each player. In this model, where all players share an action curve, it may be difficult to encounter the appropriate action time. In the second model, we will consider how to find the action point when one player will be dominant while the other will be lagging. This model gives the first proposition if multiple players act at the same time and there is a dominant player which will win while the others will lose. In the next model, we will consider four players where one player has a dominant market success curve and the final player has a lagging market success curve in comparison to the two players who share a similar market success curve. And in the last model, there are players similar to model 3, but we add two players where one is the new most lagging and the other is the new most dominant and unknown curve. Finally, the finding proved that lagging companies should try to participate in the market before the dominant companies so that they can have the opportunity to become a chance of success in another closed market.

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