“We began with the idea of making the fascinating approach of game theory useful for broad application in industry. Through diligence, we’ve succeeded in developing a solid, sustainable business model. We’re the only consulting firm which focuses entirely on employing and improving this methodology. We now more than 90 specialists in Munich, London, Berlin and Utrecht successfully implementing projects for leading companies in all key industrial sectors, including Automotive, Electronics and Pharmaceuticals. Even though most of us have an academic background, we’re far from a mere ‘brain tank’. Quite the contrary: we see ourselves mainly as ‘doers’. It’s a real asset to understand something perfectly in theory, but our clients value our pragmatic method of putting theory into practice and the way we put our hearts into our projects. We support them from conception through to the final negotiations. That’s how we ensure that our ideas are channeled into profitable results – not to mention how much fun it is to see the success up close. At present, the primary focus of our solutions lies in the area of Procurement. We’ve established a broad foundation and can now look back on 2,700 successful projects. We know that there’s plenty more potential in this methodology to be tapped into, which is why we maintain close contact with researchers in the field. A strong team has emerged which sets international standards and remains open to new talent and ideas. After all, the application of game theory stretches far beyond Procurement. We can use it to achieve the optimum certainty of results for our clients in all complex negotiation processes, including M&A activities and sales negotiations”.

As a Partner at TWS Partners you coordinate the exchange with academia. Why is this collaboration so important for TWS Partners?

On the one hand, we are driven to achieve the best results in our projects and to be innovative. For this, new input from the world of science is fundamental. On the other hand, we want to identify the talents that match our needs, and the exchange with academia allows us to recruit directly from the source. Last but not least, it is still fun for me to translate abstract thoughts into concrete solutions for practical application so you could say I straddle both worlds.

Andreas, what does your past career look like and how did you meet TWS Partners?

Even during my business studies, I was interested in analytical topics such as industrial economics and capital market efficiency, but also in specific applications like M&A deals and market entry. When I then sat in Professor Wambach's lectures on the subject of game theory, I was fascinated by the "new" aspect of strategic interaction and the dynamic view of the market and I applied for a doctorate including an assignment as a lecturer. This was important to me, as I have always regarded the exchange and transfer of knowledge to young people as extremely enriching.

Already at university, I then worked with Professor Wambach on Procurement-related issues with a focus on risk management in Procurement auctions. Although our research received very positive feedback and awards, it became clear to me in the course of the doctoral thesis that I see my future in the application of theory rather than in pure research. As a former doctoral student of Professor Wambach, it was an obvious move for me to apply at TWS Partners.

You were the only "business" presenter, surrounded by academia, at a ZEW market design event. What do you personally draw from this exchange?

At such events it becomes clear that there is still a great deal to explore regarding problems such as combinatorial auctions, bundling, innovations and market design, which are relevant to business. Particularly with regard to understandable, robust implementation and also innovative approaches. I find it excellent that, in this research area, not only are theoretical models developed, but also experimental and empirical research is carried out. Even if some of the problems are not directly applicable to industrial purchases, the exchange is refreshing. For the first time, some of the experts' clients also attended. It is good to see that the world of academia and the world’s market leaders are sharing the same space.

How do you transfer this theory into practice at TWS Partners and why do you continue to do this?

This is, strictly speaking, a bit like research; our customers usually come to us when they have a special challenge or want to drive change. Our task is to analyse situations, identify relevant game theoretic parameters and approaches, incentive structures and conflicts, and to work out a solution based on this. It is always important to compare this with the latest scientific findings, as we are usually in very challenging situations and every starting point is relevant in developing a solution. In this respect, the results of the experiments and field studies, as well as improvements in established approaches, are not only intellectually welcome, but also support implementation.