Title: Nash equilibrium in cooperative games as a tool for solving the sustainable business development dilemma
Authors: Juan Angel Chica-Urzola; Jesús Gabalán-Coello; Vanessa Benavides-Miranda
Addresses: Department of Industrial Engineering, Universidad del Sinú, Monteria, Colombia ' Faculty of Education, Tunja, Colombia; Department of Industrial Engineering, Cali, Colombia ' Gea Mater Foundation, Monteria, Colombia
Abstract: The sustainable business development (SBD), as well as sustainable development in general, has been the subject of multiple conceptualisations, discussions and debates that have made this term become something abstract and difficult to implement in organisations. Even more so when one tries to do it from a multidimensional perspective that links the economic, social and environmental aspects; since many of the objectives of these dimensions are opposite or their effects, positive in one dimension, may be negative in another one, increasing complexity when making decisions framed in this model. Game theory and Nash equilibrium, for their part, propose tools to make an approximation that, taking considering this complexity, allows making the right decisions in terms of business sustainability.
Keywords: sustainable development; Nash equilibrium; multidimensional business development; cooperatives games; decision theory.
International Journal of Applied Decision Sciences, 2022 Vol.15 No.4, pp.492 - 509
Received: 23 Dec 2020
Accepted: 22 May 2021
Published online: 04 Jul 2022 *