Introducing Game Theory: A Graphic Guide (Introducing…), Ivan Pastine
Ivan Pastine

Introducing Game Theory: A Graphic Guide (Introducing…)

When should you adopt an aggressive business strategy? How do we make decisions when we don’t have all the information? What makes international environmental cooperation possible?

Game theory is the study of how we make a decision when the outcome of our moves depends on the decisions of someone else. Economists Ivan and Tuvana Pastine explain why, in these situations, we sometimes cooperate, sometimes clash, and sometimes act in a way that seems completely random.

Stylishly brought to life by award-winning cartoonist Tom Humberstone, Game Theory will help readers understand behaviour in everything from our social lives to business, global politics to evolutionary biology. It provides a thrilling new perspective on the world we live in.
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Александр Лубневский
Александр Лубневскийbir izlenim paylaşıldı3 ay önce
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Henrik Ulrik Anker Hansen
Henrik Ulrik Anker Hansenalıntı yaptı7 ay önce
Game theorists solve the Guessing Game in a similar fashion using iterative elimination of dominated strategies.
Remember that you’re looking for 2/3 of the average number entered into the contest. If all contestants were to pick the highest permissible number, 100, the average would be 100. Hence, no matter what one expects the average to be, it makes no sense to ever guess a number greater than 2/3 of 100, which is 67.
In other words, any strategy with a guess greater than 67 is dominated by 67. A strategy is dominated if it (in this case, a guess higher than 67) is worse than another strategy (guessing 67) regardless of what other players do. Hence, even if no one else is rational, all strategies with a guess greater than 67 can be eliminated.
Александр Лубневский
Александр Лубневскийalıntı yaptı4 ay önce
While the Battle of Sexes Game does not give conditions under which societies evolve into patriarchy (a society structured around male advantage), it does give an insight into a potential benefit of gender-based dominance. This may be one of the reasons why it is so difficult to move society to a fairer system.
Stephanie Sellis
Stephanie Sellisalıntı yaptı7 ay önce
good model is simple enough to allow us to fully understand the incentives motivating players. At the same time, it must capture important elements of reality,

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