Apply Game Theory in Practice: How to Win in Competition

Author: (USA) Miller
Publisher:
Publish Date: 2006-01-01
Features: We are often intimidated by the numerous mathematical models in game theory books. In fact, game theory is not a trick used by scholars to deceive others, but a general analytical method. After reading this book, you will no longer believe that game theory is a mystical subject far from your life, but will consider it an effective method for analyzing and describing the things around you. This book explains the analytical methods of game theory and its various real-world applications in language that everyone can understand. It also provides a detailed introduction to the theories of Ostrom and Lin, the 2005 Nobel Economics Prize laureates. For example, it explains some useful strategies derived from Schelling's analysis of social conflicts—such as salary threats, giving up control, and cutting ties—in simple language, while using everyday examples to illustrate Ostrom's repeated games. This book comprehensively explains the analytical methods of game theory and its various applications in daily life and business fields, including: the dangers of price competition, one-shot games, large-scale coordination games, and Nash equilibrium, among others.