when dealing with an internal team game theory may be less prevalent as all participants working for the same employer often have a greater shared interest for success however third party consultants or external parties assisting with a project may be motivated by other factors separate from the project s success 
the strategy of black friday shopping is at the heart of game theory the concept holds that should companies reduce prices more consumers will buy more goods the relationship between a consumer a good and the financial exchange that transfers ownership plays a major part in game theory as each consumer has a different set of expectations other than sweeping sales in advance of the holiday season companies must utilize game theory when pricing products for launch or in anticipation of competition from rival goods a balance must be found price a good too low and it won t reap profit price a good too high and it might push customers toward a substitute types of game theoryalthough there are many types of game theory such as symmetric asymmetric simultaneous sequential and so on cooperative and non cooperative game theories are the most common cooperative game theory deals with how coalitions or cooperative groups interact when only the payoffs are known it is a game between coalitions of players rather than between individuals and it questions how groups form and how they allocate the payoff among players non cooperative game theory deals with how rational economic agents deal with each other to achieve their own goals the most common non cooperative game is the strategic game in which only the available strategies and the outcomes that result from a combination of choices are listed a simplistic example of a real world non cooperative game is rock paper scissors 6