Solid scientific foundation
The Open Options Process is based on the game theory research of founder Dr. Niall Fraser. Game theory is the field of mathematics and economics that explores interactions between multiple parties.
Dr. Fraser, building on John Nash’s groundbreaking work, extended the power and applicability of game theory in several important ways. First, John Nash’s “equilibrium” is based on the idea that a player is in a stable state when there are no preferred unilateral moves available. Dr. Fraser extended this idea by showing that stable states could also be reached when players avoid taking actions that would benefit them in the short term but could trigger negative counter-actions from other players. Dr. Fraser also developed the idea of “preference trees”, which is a very compact and practical way to capture player preferences.
In game theory terminology, Open Options uses n-player, non-cooperative, nonzero-sum, non-simultaneous, asymmetric, ordinal game theory. This allows the modeling of very complex issues involving many players with distinct goals and multiple distinct options.
Dr. Fraser’s research has been published in such academic journals as:
- Theory and Decision
- Applied Mathematics and Computation
- Group Decision and Negotiation
- Journal of Conflict Resolution
- Behavioral Science
Dr. Fraser’s original research has been refined during nearly two decades of application to critical organizational issues, with further contributions from other Open Options scientists. The result is a precise, powerful and practical set of tools that is ideal for managing exceptionally complex, multi-player business problems.