Introducing Game Theory

Taken together, these three approaches—application of knowledge about specific games (prisoner’s dilemma, entry/preemption), simulation, and cooperative analysis—produce a balanced and comprehensive treatment of the problems of formulating strategy in markets with a few genuine competitors, all mutually capable and conscious of one another.

We believe it possible that Game Theory, as it develops—or something like it—may become an important concept and force in many phases of life.

The method which will be presented is identified by the catch phrase Game Theory or, time permitting, the Theory of Games of Strategy. If this is your first encounter with that unlikely sequence of nouns, the sole reaction is probably: Why? Well, the idea takes its name from the circumstance that the study of games is a useful and usable starting p

Life isn’t chess, a game of perfect information, one that can in theory be ‘solved’. It’s poker, a game where you’re trying to make the best decisions using the limited information you have.