Game Theory - Successful Negotiation in Purchasing [electronic resource] : Requirements, Incentives and Award / by Christoph Pfeiffer.

Basic concepts of game theory -- Examples of applied game theory -- Purchasing negotiations -- Data-based identification of collaborations between suppliers -- Application and limitations of game-theoretic procurement optimization. .

Applied game theory in procurement has become an essential tool in many companies for systematically achieving successful negotiations. Reverse auctions are a central building block of game-theoretically optimized negotiations. A foundational knowledge of auctions and game theory has thus become vital for procurement professionals. This book clearly describes many helpful methods and their application in practice. Procurement projects with a high volume, which are interesting for suppliers and whose performance can be well specified, are particularly suitable for using game theory in purchasing. The author also shows how cartels or restrained competition between suppliers can be identified using a purely data-based method. Every purchase involves a sale. The book is, therefore, not only aimed at buyers. Auctions in procurement and the underlying game-theoretic principles also play an equally significant role for salespeople. Content Concepts of game theory Examples of applied game theory Purchasing negotiations Data-based identification of cooperation between suppliers Application and limits of game-theoretical procurement optimization The Author Dr. Christoph Pfeiffer is a consultant and managing partner of Competitio Consulting, a management consultancy specializing in the systematic optimization of negotiations. The translation was done with the help of artificial intelligence. A subsequent human revision was done primarily in terms of content.