zmVault/strategy.md

id, aliases, tags, title

id	aliases	tags	title
		topic/risk	Strategy

Strategy

The field of strategy is concerned with the optimal solutions of problematic scenarios.

Decision Theory

Decision theory concerns

• internal problems
• no competition
• internal optimization

Game Theory

Game theory concerns decisions made in competition with other intelligent actors.

Predictions of competitor behavior in bids and market movements are made with a game-theoretic lens.

Auction Theory

Auction theory is a subset of game theory that specifically addresses the competitive bid format typical of construction project award.

In Construction Contracting

Executives inform Risk Tolerance, Risk Tolerance informs Minimum Estimate Certainty

Bid Strategy

Project cost certainty

Expected Competition

Estimation Strategy