Analyzing IT Governance Initiatives with Game Theory: A Systematic literature Review Maximiliano M. de Faria 1 , Eber Assis Schmitz 1 , Antonio Juarez Alencar 1* , Mônica Ferreira da Silva 1 , Petros Sotirios Stefaneas 2 1 The Tércio Pacitti Institute, Federal University of Rio de Janeiro, Brazil. Department of Mathematics, National Technical University of Athens, Greece. * Corresponding author. Tel.: +55 21 3938-3224; email: antonio.juarez.alencar@gmail.com Manuscript submitted April 11, 2015; accepted July 2015. doi: 10.17706/jsw.10.9.1056-1069 Abstract: These days information technology (IT) is an integral part of all business functions. Hence, managing IT resources efficiently and effectively has become a challenging undertaking. In this context, IT governance has presented itself as a management tool that allows decision makers to focus their efforts on value creation activities that are closely aligned with business strategy. However, IT governance tends to modify the power structure within organizations. This frequently leads to conflicts, which can be analyzed with game theory. This paper presents a systematic literature review of the use of game theory to support IT governance initiatives. It is intended to be a source of information for researchers who are involved with the analysis of IT governance structures in both the private and public sectors. Key words: Game theory, IT governance, literature review, IT strategy, IT resource management. 1. Introduction Information Technology (IT) has become one of the most important drivers of economic growth at the beginning of the 21 st century [1]. Not only does it provide companies with the means to gain competitive advantage, but also to increase market and mind share [2]. The literature is full of real-world examples in which the use of IT helps to reduce time to market and improve product quality [3]. This holds true for many types of IT related projects, including business information-system evolution, decision support system construction and mobile application development. However, as there is no free lunch [4], in order to take advantage of these benefits companies must promote the adoption of concepts and methods that favor the effective use of technological resources [5]. IT governance models are arrangements containing a set of management rules, a distinct organizational structure and a collection of business processes [6]. By enabling better planning on the use of information technology resources, IT governance models help organizations to meet the challenges posed by different market scenarios [7]. Moreover, these arrangements favor the adoption of more effective and transparent management styles, which increase accountability and reduce information asymmetry within organizations [8]. It is commonly accepted that well-structured governance models are among the main influencing factors in the effective and efficient use of IT resources [9]. Also, as competition for market space increases worldwide, many companies have turned to IT as a source of innovation and competitive advantage. As a Journal of Software 1056 Volume 10, Number 9, September 2015 2