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The Application of Game Theory to Forecasting Orders

Author

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  • VojtÄ›ch Stehel
  • Marek Vochozka

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.

Suggested Citation

  • VojtÄ›ch Stehel & Marek Vochozka, 2015. "The Application of Game Theory to Forecasting Orders," Littera Scripta, VSTE, vol. 8(2), May.
    • Handle: RePEc:rsg:littra:2015-013
    DOI: 10.36708/LS.2015.I02.008
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