The Application of Game Theory to Forecasting Orders

Vojtěch Stehel and Marek Vochozka

Littera Scripta, 2015, vol. 8, issue 2

Abstract: The article deals with the effort to forecast the development of future sales over a period of several months. The ability to forecast is very important for a company in terms of being able to manage its working capital i.e. cash flow, materials, semi-products, work in progress, products and receivables, according to the forecast. Forecasting is often very difficult, particularly in a situation when a company enters a new market and has insufficient data over a substantial period of time, in particular when we consider the seasonality of a product or service. The article therefore analyses the possible application of game theory to the forecasting of orders.

Keywords: game theory; forecast; trade; working capital management; controlling (search for similar items in EconPapers)
Date: 2015
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