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Learn Game Theory: A Primer to Strategic Thinking and Advanced Decision-Making. (Strategic Thinking Skills Book 1) Kindle Edition
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From the Publisher
Think with clarity, depth, and speed. Become an effective problem solver and decision maker. Master analytical, critical, and systems thinking.
We often have blind spots for the reasons that cause problems in our lives. We try to fix our issues based on assumptions, false analysis, and mistaken deductions. These create misunderstanding, anxiety, and frustration in our personal and work relationships.
Resist jumping to conclusions prematurely. Evaluate information correctly and consistently to make better decisions. Systems and critical thinking skills help you become proficient in collecting and assessing data, as well as creating impactful solutions in any context.
Albert Rutherford dedicated his entire life to find the best, evidence-based practices for optimal decision-making. His personal mantra is, "ask better questions to find more accurate answers and draw more profound insights."
About the author
Albert Rutherford is an internationally bestselling author and a retired corporate executive. His books draw on various sources, from corporate system building, organizational behavior analysis, scientific research, and his life experience. He has been building and improving systems his whole adult life and brings his proven strategies to you.
- ASIN : B0916P1W3K
- Publisher : ARB Publications (March 25, 2021)
- Publication date : March 25, 2021
- Language : English
- File size : 3796 KB
- Simultaneous device usage : Unlimited
- Text-to-Speech : Enabled
- Screen Reader : Supported
- Enhanced typesetting : Enabled
- X-Ray : Enabled
- Word Wise : Not Enabled
- Print length : 284 pages
- Page numbers source ISBN : B0915Q91QN
- Lending : Enabled
- Best Sellers Rank: #31,017 in Kindle Store (See Top 100 in Kindle Store)
- Customer Reviews:
About the author
Top reviews from the United States
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Learn game theory presents classic examples such as the prisoner's dilemma and stag hunt but it also dives deep into other, less-known examples. It's heavily focused on the utility of the Nash equilibrium, illustrating it through pure and mixed strategies. I like that he is consistent with the players, Jim and Tim. This way I knew that Jim always has the horizontal and Tim the vertical position.
Great primer for strategic thinking!
Strategic thinking often focuses on the adversarial act of beating a competitor, while being aware that the competitor is trying to beat you too. But often we develop strategic choices that omit the necessary awareness of the possible behavior of our competition.
Game theory starts with the assumption that you are “playing” against a competitor who is trying as hard as us are to beat him. Not every scenario has to be competitive, in the game one option is to cooperate. Game theorists say that there are basic principles that can lead to a more scientific approach to strategy. Game theory will never achieve the status of a science because we are always dealing with individuals, driven by different values, aspirations, and more, rather than by a set of universal rules. This is a relatively young discipline, but has already gathered many useful insights for decision-making and practical strategy.
This book presents the most well-known example of game theory, the Prisoners’ Dilemma, among other less known but equally insightful games. Two prisoners kept separately, are offered the opportunity to confess their crime they are accused, in return for a shorter sentence. They both doubt there is hard evidence against them. If neither confesses they are likely to get just a fraction of what they’d get if they confessed. BUT if either one confesses he/she can walk freely while the other will be severely sentenced. Since they cannot confer, what would be the most best course of action for each “player”?
The principles behind this game are very similar to decisions a cafe owner might have to make regarding coffee pricing. If coffee price is high, there will be a greater margin of profit. If, however, the competitor lowers their coffee price, the first cafe owner will see his customers defecting. If the first cafe owner lowers his price and the competitor retains a high price, he will benefit greatly. If they both lower prices, both will gain lower profit.
Prior to downloading this book, I didn’t have any deep knowledge of what game theory is. But now I can say I can hold my own in a discussion about game theory. Some things were a bit difficult to grasp especially “Nash Equilibrium” but all in all it’s a nice start for someone like me.
This book is good if you like to play chess and is equally good for anyone that wants to improve their decision-making skills. And if you like Math, then you will love this book.