Game theory in marketing: Applications, uses and limits

The use of game theory as a useful and appropriate tool to define and explain marketing problems has many proponents and critics. This paper reviews the tenets of game theory, outlines both sides of the debate concerning the value of game theory within the marketing discipline, reviews those marketing oriented applications where game theory has been studied, and provides a summary of those particular applications where the use of game theory seems both warranted and functional in yielding interesting and useful marketing results.