'Brilliantly demonstrated in "Thinking Strategically" [ISBN 9780393310351], game theory is bursting with lessons for us all' - "The Observer". Here the authors provide the long-awaited sequel.Game theory means rigorous strategic thinking. It's the art of anticipating your opponent's next moves, knowing that your rival is trying to do the same thing to you. Though parts of game theory involve common sense, much is counterintuitive and it can only be mastered by developing a new way of seeing the world. Using case studies, the authors show how nearly every business and personal interaction has a game theory component to it. The authors look at questions such as whether the winners of reality-TV contests are instinctive game theorists or if big-time investors see things that most people miss and what great poker players know that the average person doesn't. Mastering game theory will make the reader more successful in business and life: this lively book is the key to that mastery.
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"It is an easy read and is written in a lively tone-which is not something I particularly recall from my lectures in the 1980s. Long live economics!" John Burns, The Times Higher Education "Unlike most of the ranks of management advice books which pad out bookshop business sections, here is one which is rigorous, fun and extremely useful all at the same time." The Economist
--This text refers to an out of print or unavailable edition of this title.
About the Author
* AVINASH K. DIXIT, of Princeton University, and BARRY J. NALEBUFF, of Yale University, are the authors of Thinking Strategically, the "popular, non-technical" (Vanessa Houlder, Financial Times), "trip to the gym for the reasoning faculties" (Andrew St George, Financial Times).
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10 of 11 people found the following review helpful
By P Newall
Format:Hardcover|Amazon Verified Purchase
Game theory is a fascinating and tragically underrated field. This has much to do with mathematical abstraction and obscurantism. A "game" represents any scenario with two or more independent players, where each player's payoff depends on the combined choices of everyone.
This situation leads to easy mathematical modeling, but many real-world situations can also be represented as "games". For instance, "The Battle of the Sexes" is a game which models the competing entertainment choices of a couple who want to spend the night out on the town together. The game of "Chicken" can be used to model both the behaviour of teenagers or Cold War nuclear brinkmanship.
Dixit and Nalebuff explain games in terms of what they are to ordinary people -- simple stories illustrating the importance of strategic behaviour -- and not as abstract mathematical problems. They explain key points with examples from books, game shows, movies, and sport. They also show how a knowledge of game theory can come in handy when voting, bidding on eBay, or bargaining with others.
This book is essentially an updating and significant revision of their earlier book "Thinking Strategically". Thomas Schelling is an academic who takes a similar approach to game theory; his books are worth checking out if Dixit and Nalebuff manage to whet your appetite for the field.
This situation leads to easy mathematical modeling, but many real-world situations can also be represented as "games". For instance, "The Battle of the Sexes" is a game which models the competing entertainment choices of a couple who want to spend the night out on the town together. The game of "Chicken" can be used to model both the behaviour of teenagers or Cold War nuclear brinkmanship.
Dixit and Nalebuff explain games in terms of what they are to ordinary people -- simple stories illustrating the importance of strategic behaviour -- and not as abstract mathematical problems. They explain key points with examples from books, game shows, movies, and sport. They also show how a knowledge of game theory can come in handy when voting, bidding on eBay, or bargaining with others.
This book is essentially an updating and significant revision of their earlier book "Thinking Strategically". Thomas Schelling is an academic who takes a similar approach to game theory; his books are worth checking out if Dixit and Nalebuff manage to whet your appetite for the field.
9 of 10 people found the following review helpful
Format:Hardcover
How should we play games that involve other players whose interests are not (or are only partially) aligned with our own? What factors should we take into account when designing games (such as auctions)?
This book elucidates the key aspects of game theory to the lay reader. Expect not mathematical rigour, but thought-provoking ideas, novel strategic scenarios and an insightful explanation of a variety of collective action problems. The variety of examples make it an engaging read. Below are a few of my favourites:
* The effectiveness of a two-tiered takeover bid.
* How to meet someone in NYC knowing only the day to meet.
* How, in a sailboat race, one can maintain one's lead by following the course of the boat behind.
* The existence of various equilibria in the marketplace. The authors give the example of the Dvorak and Qwerty keyboard layouts.
This book elucidates the key aspects of game theory to the lay reader. Expect not mathematical rigour, but thought-provoking ideas, novel strategic scenarios and an insightful explanation of a variety of collective action problems. The variety of examples make it an engaging read. Below are a few of my favourites:
* The effectiveness of a two-tiered takeover bid.
* How to meet someone in NYC knowing only the day to meet.
* How, in a sailboat race, one can maintain one's lead by following the course of the boat behind.
* The existence of various equilibria in the marketplace. The authors give the example of the Dvorak and Qwerty keyboard layouts.
2 of 2 people found the following review helpful
Format:Paperback
I am currently studying my MBA and wanted to get better at understanding and implementing strategy. This book is the answer. This book does not give you solutions, it makes you more intelligent in your perspectives and reactions to competition, and I think that's more important. The real acts of warfare can be understood and dealt through this book. Great book!
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4.3 out of 5 stars
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Most Recent Customer Reviews
5.0 out of 5 stars
Excellent Book
It is one of the most pleasant books that I have ever read.The examples that the book uses and the situations that describes and the games in which we can participate made me... Read more
Published 4 months ago by Panagiotis Tsatsaronis
3.0 out of 5 stars
A good read but contains unnecessary bible analysis
This book is very interesting. The concepts it outlines are entertaining and makes you think more deeply about games and strategies than you might have done before. Read more
Published 5 months ago by Seannation
4.0 out of 5 stars
Nicely put together
A polished easy-to-read book. Well-constructed. Stays away from mathematics and uses anecdotes to explain concepts. Read more
Published 7 months ago by J. S. Wills
5.0 out of 5 stars
A solid read
"Do not let the title put you off, this book does not belong on the "self help" shelf. Dixit and Nalebuff have produced a highly accessible text which is relevant to business,... Read more
Published 20 months ago by Ian MacLean
5.0 out of 5 stars
game theory for everyone
Very good introduction to the practical application of game theory.This is an update of their first book.Its well written and thought provoking. Read more
Published on 27 Sep 2009 by bucky
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