Game Theory in Practice

http://www.economist.com/business/management/displaystory.cfm?story_id=12669299
In an article from the Economist, the author provides a brief overview of game theory, common strategies and outcomes. He also mentions its function in the business world. This is interesting because people tend to think that this kind of strategy is not really thought out in real life. However, according to this article, "Few firms nowadays think about strategy without adding a bit of game theory." Especially in "sectors where firms compete fiercely for market share and customer loyalty, this stylised progression of moves closely parallels actual behaviour."
The article also notes one of the drawbacks of game theory, thinking in terms of win-lose scenarios, which can lead to one party's negative feelings about the outcome of certain decisions.