“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 physicist looking to branch out from the specificities of my academic career path, the prospect of modelling socio-economic interactions with TWS was an opportunity that inherently appealed to me. Truth be told, the interviews -- discussing test-cases and solving logic puzzles with some of TWS' seniors -- won me over, but it has been very rewarding ever since to discover how representative of my day-to-day work life these interviews were. At TWS I have found a fulfilling job, working on diverse and challenging projects with engaging, smart and good-humoured colleagues.

We are making decisions every day, and game theory teaches us how to determine the optimal strategies based on the current situation. This is a must-have course for everyone. TWS implements such methodology into business, by setting up all the rulesets upfront, providing proper incentives as well as the real chance to win the business, and then letting the process determine the result. That's what I appreciate as the beauty of applying game theory into practice.

As an Economics student, I used to have mixed feelings with respect to most of the Academic work: while I was intellectually enthusiastic about it, I felt a strong disconnection to reality. How can well-structured models be applied to a world full of individuals making “not-so-rational” decisions, confused by an extremely high degree of information asymmetry? I found my answer in TWS. We apply Microeconomic research to create efficient market structures, incentive mechanisms and negotiation models that give our clients the best strategic advantage. We face the most diverse challenges day-to-day: making our job extremely fulfilling, both personally and professionally.

I am passionate about game theory since my first lecture at university. In no other subject I had more insightful moments. No matter how unsolvable and chaotic the problem seemed - as soon as you proceeded step by step with the right methods, the picture cleared up and the solution seemed almost trivial.
In my daily work, I use game theory and see exactly such "aha" moments with our clients. My work not only involves applying game theory, but also sharing it. The scientifically based analysis of optimal "rules of the game" and next "moves" always puts our clients in their strategically best situation. The insights that arise for the client during this analysis make my daily work incredibly valuable.

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.

One of the unique things about working at TWS is that you're always challenged to think one step further ahead than you would have previously thought was possible. This shared mindset across TWS employees creates an environment where you continuously push each other to generate the brightest, most creative solutions to complex problems. Witnessing the success, we deliver to clients through our teamwork is then the cherry on top of the cake.

For me, the best thing about working at TWS are definitely the helpful and intelligent colleagues. Especially when we work in smaller project teams, there is a sense of community and a pleasant atmosphere. All new ideas are heard and discussed to jointly find creative solutions for our clients’ complex challenges. A lot of emphasis is placed on the personal development of each individual and after a short time you are given a high degree of responsibility. As I can also practically apply my focus and absolutely favourite subject from my studies, game theory, TWS is a really great employer for me.

TWS is the ideal environment for someone who is intellectually curious and interested in solving real-world problems. The work we do at TWS bridges theory and practice in a unique and very effective way, and we get to apply our tools on a large variety of topics. Moreover, there is a great atmosphere that builds on strong team spirit while also promoting each one’s individuality. It is a great environment to grow professionally and personally.

Of all the things I like about working at TWS, my favourite is my inspiring and supportive colleagues. We work in small teams, so it is easy to build strong bonds and learn a lot from each other. I have also found that this has meant I could take on a lot of responsibility early on. Additionally, there is a big emphasis on training, both in economic theory (you don’t need an economics background to start at TWS!) and soft skills, which can be used directly in day-to-day life.