gaming

gaming definition - business

gaming

  1. In business, modeling in which two or more parties compete to win something. For example, several defense contractors compete to win a contract to build a new tank by making decisions based partly on expectations regarding their competitors' bids. Too high a bid will result in losing the contract to a competitor, and too low a bid will win the contract but without a reasonable profit.
  2. The gambling industry.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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