Application of Evolutionary Game Theory to Strategic Innovation
Abstract Evolutionary game theory may help us know the right decision to make in situations where our choices are affected by the choices of others whether actors are rational or not. In this study we highlight the rise in importance of bandwagon pressure developing the generation and evolution of strategic innovation in terms of evolutionary game theoretical perspective. According the results, derived from model redefining the business will only be valuable if there are adaptation processes in related industry. Both redefining and adaptations simultaneously are not profitable. Correspondingly, we establish a significant point in strategic management that essence of strategic innovation is bounden with respect to limited level of adaptation; not too much none.