Game Theory: Anticipating Reactions for Winning Actions

by Mark L. Burkey
published by Business Expert Press, 2013
Ref BEP1493
 

Game Theory: Anticipating Reactions for Winning ActionsGame theory involves training the brain to think in new ways, explains the author of Game Theory: Anticipating Reactions for Winning Actions. The book aims to teach people how to use game theory to help them think ahead, foresee possible reactions to their actions, and make better decisions.

Game theory involves training the brain to think in new ways, explains the author of Game Theory: Anticipating Reactions for Winning Actions. The book aims to teach people how to use game theory to help them think ahead, foresee possible reactions to their actions, and make better decisions.

The book notes that the birth of game theory is usually traced back to 1928, when the mathematician John von Neumann wrote the article, On the Theory of Games of Strategy. However, although groundbreaking, the arguments were limited as they dealt largely with ‘zero-sum’ games; in other words, what is lost by one person is gained by another. However, most games are not like this, and between 1949 and 1951, John Nash formulated the Nash Equilibrium to help predict what rational people will do in all types of games, in addition to zero-sum games.

Game Theory: Anticipating Reactions for Winning Actions uses everyday examples to illustrate what is described as ‘the main lesson that we will see time and time again’: that in a game of strategy, what the other players believe and choose to do are just as important as your own choices and beliefs.

This book is suitable as a primer for those new to game theory or anyone with a basic knowledge of the topic. Additional information, learning tools, and videos can be found on the author’s game theory website.

Purchase individual chapters from the book

About the author

Mark L. Burkey is Professor of Economics at North Carolina A&T State University. He is a regional scientist/microeconomic theorist who specialises in spatial modeling. Mark is also a passionate creator of teaching videos.

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