Evolutionary philosophical games in strategic management

• Published in: Journal of modelling in management 2023-09, Vol.18 (5), p.1655-1668
• Main Authors: Ozkan-Canbolat, Ela, Ozkan, Gulberk, Beraha, Aydin
• Format: Article
• Language: English
• Subjects: Alliances; Behavior; Competition; Cooperation; Decision making; Democracy; Evolution; Game theory; Philosophy; Political philosophy; Strategic management
• ISSN: 1746-5664; 1746-5664; 1746-5672
• DOI: 10.1108/JM2-02-2022-0039

Purpose This paper aims to show that evolutionary game theory not only provides a general and unified theory of political philosophy and strategic management theories but also a positive theory of interactive behavior. Design/methodology/approach This study suggests a way of the evolutionary game-theoretical model. Findings The model presented in this paper demonstrates coopetition is derived from balance points in multi-actor games. As the political–philosophical address of those strategic games will of all becomes convention in this balance point at which common knowledge occurs global optimum. Research limitations/implications This study explores the connections between several streams in philosophy and strategic management. What does a particular philosophy contribute to strategic management with respect to game theory? When addressing this question in historical or exploratory terms, or in a combination of both, the end result is similar: particular philosophical issues, properly explained, are discussed in relation to important questions in strategic management. Practical implications What are the psychological and behavioral underpinnings of strategic decisions of this kind? What type of cognitive frames and managerial mental models, such as the game-theoretical model, might enable or hinder the integration of real-world problems in strategic decision-making? Social implications What explains the evolution of such mental models, as well as the development of philosophical ideas, in informing the origins? How does the evolution of social and political contexts influence change in the cognitive and behavioral underpinnings of strategic decision-making? Originality/value This study highlights the overt power of strategic management ideas – competition, cooperation and coopetition – which have historically been built on the foundations of organizational theory, while also underlying the potential of philosophies, collective wisdom and Condorcet’s jury theorem and Rousseau’s (1998) correctness theory in games of evaluation. This study investigates whether the many produce better decisions than the wise few.