One of the most significant challenges to enduring family businesses is the process of passing the leadership of a firm from one generation to another. This article introduces game theory as a model for examining succession as a set of rational but interdependent choices made by individuals about a firm’s leadership. Its primary contribution is demonstrating the application of game theory to understanding the decisions and outcomes of succession events.
Game Theory and Family Business Succession: an IntroductionFaculty Publications
DepartmentEconomics, Finance, & Quantitative Analysis
Citation InformationTimothy Mathews, Tim Blumentritt and Gaia Marchisio, "Game Theory and Family Business Succession: An Introduction." Family Business Review, Vol. 26, No. 1, March 2013, 51-67.