Game Theory: The art of thinking strategically
By 50MINUTES
()
About this ebook
This book is a practical and accessible guide to understanding and implementing game theory, providing you with the essential information and saving time.
In 50 minutes you will be able to:
• Quickly master the concept of strategic behavior and interactive decisions
• Anticipate the actions of your opponents to react accordingly and maximize gains
• Find the key to cooperating in order to reach collective goals
ABOUT 50MINUTES.COM| Management & Marketing
50MINUTES.COM provides the tools to quickly understand the main theories and concepts that shape the economic world of today. Our publications are easy to use and they will save you time. They provide elements of theory and case studies, making them excellent guides to understand key concepts in just a few minutes. In fact, they are the starting point to take action and push your business to the next level.
Read more from 50 Minutes
The Universal Declaration of Human Rights: The Fight for Fundamental Freedoms Rating: 0 out of 5 stars0 ratingsApartheid: Racial Segregation in South Africa Rating: 4 out of 5 stars4/5Saddam Hussein: The Rise and Fall of a Dictator Rating: 0 out of 5 stars0 ratingsPrincess Diana: The Tragic Fate of the Nation’s Sweetheart Rating: 0 out of 5 stars0 ratingsThe Ku Klux Klan: The Hooded Face of Prejudice in the United States Rating: 0 out of 5 stars0 ratingsWorld War II: The Resistance: The Fight for Freedom in Occupied Europe Rating: 0 out of 5 stars0 ratingsThe Protestant Reformation: Returning to Christianity’s Roots Rating: 0 out of 5 stars0 ratingsThe Industrial Revolution: The Birth of the Modern World Rating: 0 out of 5 stars0 ratingsThe Treaty of Versailles: The Treaty that Marked the End of World War I Rating: 3 out of 5 stars3/5The Beatles: The Sound of the Sixties Rating: 0 out of 5 stars0 ratingsBloody Sunday: The Bogside Massacre Rating: 0 out of 5 stars0 ratingsJohn Calvin: The Protestant Reformation in Europe Rating: 0 out of 5 stars0 ratingsMargaret Thatcher: The Iron Lady Rating: 0 out of 5 stars0 ratingsCoco Chanel: The Queen of Haute Couture Rating: 0 out of 5 stars0 ratingsAndrew Jackson: The American Lion Rating: 0 out of 5 stars0 ratingsMarie-Antoinette: The Queen and the French Revolution Rating: 0 out of 5 stars0 ratingsThe Korean War: From World War to Cold War Rating: 0 out of 5 stars0 ratingsThe Nuremberg Trials: The Investigation into Crimes Against Humanity Rating: 0 out of 5 stars0 ratingsTutankhamun: Egypt’s Boy Pharaoh Rating: 0 out of 5 stars0 ratingsJoan of Arc: The Maid of Orléans Rating: 0 out of 5 stars0 ratingsOliver Cromwell: The Man Who Refused to be King Rating: 0 out of 5 stars0 ratingsTheodore Roosevelt: The Fight Against Corruption Rating: 0 out of 5 stars0 ratingsThe Mayflower: The Founding Myth of the United States of America Rating: 0 out of 5 stars0 ratingsThe Construction of the European Union: Working for Peace and Prosperity in Europe Rating: 0 out of 5 stars0 ratingsSaint Thomas Aquinas: Reason as the Servant of Faith Rating: 0 out of 5 stars0 ratingsWorld War I: Part One: 1914: The Early Stages Rating: 0 out of 5 stars0 ratingsNapoleon Bonaparte: The Emperor of France Rating: 0 out of 5 stars0 ratingsThe Crusades: The Fight for the Holy Land Rating: 0 out of 5 stars0 ratingsVladimir Lenin: The Russian Revolution Rating: 0 out of 5 stars0 ratings
Related to Game Theory
Titles in the series (2)
Benchmarking for Businesses: Measure and improve your company's performance Rating: 0 out of 5 stars0 ratingsGame Theory: The art of thinking strategically Rating: 0 out of 5 stars0 ratings
Related ebooks
Game Theory: The art of thinking strategically Rating: 3 out of 5 stars3/5The Art of Strategy (Review and Analysis of Dixit and Nalebuff's Book) Rating: 0 out of 5 stars0 ratingsGame Theory: A Simple Introduction Rating: 4 out of 5 stars4/5Game Theory: A Beginner's Guide to Strategy and Decision-Making Rating: 0 out of 5 stars0 ratingsGame Theory: A Guide to Game Theory, Strategy, Economics, and Success! Rating: 0 out of 5 stars0 ratingsPractice Game Theory Rating: 0 out of 5 stars0 ratingsIntroduction to the Theory of Games Rating: 0 out of 5 stars0 ratingsPareto's Principle: Expand your business with the 80/20 rule Rating: 5 out of 5 stars5/5The Peter Principle: Say NO! to incompetence at work Rating: 4 out of 5 stars4/5Parkinson's Law: Master time management and increase productivity Rating: 0 out of 5 stars0 ratingsThe Greiner Growth Model: Anticipate crises and adapt to a changing business world Rating: 0 out of 5 stars0 ratingsThe BCG Growth-Share Matrix: Theory and Applications: The key to portfolio management Rating: 2 out of 5 stars2/5The Long Tail Theory for Business: Find your niche and future-proof your business Rating: 0 out of 5 stars0 ratingsMichael Porter's Value Chain: Unlock your company's competitive advantage Rating: 4 out of 5 stars4/5Management by Objectives: Get the best out of your employees Rating: 0 out of 5 stars0 ratingsIshikawa Diagram: Anticipate and solve problems within your business Rating: 5 out of 5 stars5/5The Theory of Comparative Advantage: Why specialisation is the key to success Rating: 0 out of 5 stars0 ratingsMaslow's Hierarchy of Needs: Gain vital insights into how to motivate people Rating: 5 out of 5 stars5/5The Balanced Scorecard: Turn your data into a roadmap to success Rating: 4 out of 5 stars4/5Porter's Five Forces: Understand competitive forces and stay ahead of the competition Rating: 4 out of 5 stars4/5PESTLE Analysis: Understand and plan for your business environment Rating: 4 out of 5 stars4/5The Law of Diminishing Returns: Theory and Applications: Understand the fundamentals of economic productivity Rating: 0 out of 5 stars0 ratingsThe SWOT Analysis: A key tool for developing your business strategy Rating: 4 out of 5 stars4/5Improve Your Business Through Kaizen: Boost your results with continuous improvement Rating: 4 out of 5 stars4/5Your Strategy Needs a Strategy (Review and Analysis of Reeves, Haanaes and Sinha's Book) Rating: 4 out of 5 stars4/5Freemium: Attract more customers and boost your sales Rating: 0 out of 5 stars0 ratingsTools of Systems Thinkers: Learn Advanced Deduction, Decision-Making, and Problem-Solving Skills with Mental Models and System Maps. Rating: 0 out of 5 stars0 ratingsSMART Criteria: Become more successful by setting better goals Rating: 5 out of 5 stars5/5
Business For You
The Intelligent Investor, Rev. Ed: The Definitive Book on Value Investing Rating: 4 out of 5 stars4/5The Richest Man in Babylon: The most inspiring book on wealth ever written Rating: 5 out of 5 stars5/5How to Write a Grant: Become a Grant Writing Unicorn Rating: 5 out of 5 stars5/5Crucial Conversations: Tools for Talking When Stakes are High, Third Edition Rating: 4 out of 5 stars4/5Becoming Bulletproof: Protect Yourself, Read People, Influence Situations, and Live Fearlessly Rating: 4 out of 5 stars4/5The Book of Beautiful Questions: The Powerful Questions That Will Help You Decide, Create, Connect, and Lead Rating: 4 out of 5 stars4/5Your Next Five Moves: Master the Art of Business Strategy Rating: 5 out of 5 stars5/5Emotional Intelligence: Exploring the Most Powerful Intelligence Ever Discovered Rating: 5 out of 5 stars5/5Confessions of an Economic Hit Man, 3rd Edition Rating: 5 out of 5 stars5/5Robert's Rules Of Order Rating: 5 out of 5 stars5/5Carol Dweck's Mindset The New Psychology of Success: Summary and Analysis Rating: 4 out of 5 stars4/5The Everything Guide To Being A Paralegal: Winning Secrets to a Successful Career! Rating: 5 out of 5 stars5/5Tools Of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers Rating: 4 out of 5 stars4/5Crucial Conversations Tools for Talking When Stakes Are High, Second Edition Rating: 4 out of 5 stars4/5Law of Connection: Lesson 10 from The 21 Irrefutable Laws of Leadership Rating: 4 out of 5 stars4/5The Five Dysfunctions of a Team: A Leadership Fable, 20th Anniversary Edition Rating: 4 out of 5 stars4/5Just Listen: Discover the Secret to Getting Through to Absolutely Anyone Rating: 4 out of 5 stars4/5Collaborating with the Enemy: How to Work with People You Don’t Agree with or Like or Trust Rating: 4 out of 5 stars4/5Capitalism and Freedom Rating: 4 out of 5 stars4/5Real Artists Don't Starve: Timeless Strategies for Thriving in the New Creative Age Rating: 4 out of 5 stars4/5Set for Life: An All-Out Approach to Early Financial Freedom Rating: 4 out of 5 stars4/5The Catalyst: How to Change Anyone's Mind Rating: 4 out of 5 stars4/5
Reviews for Game Theory
0 ratings0 reviews
Book preview
Game Theory - 50MINUTES
Game theory
Key information
Names: Game theory, strategic behaviour theory, interactive decision theory.
Uses: Justification of social laws and norms in order to maintain cooperation within a group; political decision-making; understanding power relations in negotiations; conflict analysis tool; tool to generate confidence within a group; applications in logic and set theory; applications in economics, biology, computer science and the theory of evolution.
Why is it successful? Game theory is an excellent tool for negotiations, as it encourages us to reflect on the complexity of social interactions and shows that:
individuals, companies and countries are mutually interdependent;
interaction is beneficial for resolving shared problems;
cooperation is not easy to implement;
in some cases, where each individual acts in their own interest, the shared interest may not be reached;
there are various ways of making strategic choices in a cooperative situation.
Key words:
Interaction: a collective action in which a player performs an action or makes a decision that is influenced by another player.
Strategy: a full specification of a player’s behaviour in any situation where they are required to play.
Introduction
Every day, all agents (animals, natural and legal persons or economic agents, including politicians, consumers, employers and manufacturers) and communities (sports teams, countries, armies, etc.) interact with each other when making decisions. These interactions can range from cooperation to conflict.
The field of game theory is very broad and its applications can be found in areas as diverse as international relations, economics, political science, philosophy and history, among others. This theory develops the tools to analyse behaviours (economic, social, etc.) in the form of strategy games.
History
The first analyses of strategy games date back to