Game Theory and Strategy Explained

by Can Akdeniz

Game Theory has evolved since its inception, but at its root, it is the modeling of strategic interactions between two or more players where there is a set of rules and outcomes! This basic definition gets to the heart of what Game Theory is. And this can be applied to almost any situation in your life and your business.
Regardless of your status, as an entrepreneur or a part of the employed, this theory can serve you well. It can help you develop strategic approaches to real life situations, where you predict, with remarkable accuracy, the best possible route towards the best possible outcomes. If you wanted to have a crystal ball, one that helps you predict the future, then Game Theory would be as close to that crystal ball as you can get, in real-life!
Game Theory and Strategy go hand in hand. In fact, they are like the big brother and the little brother of social interaction. Where Game Theory is the big brother, used to guide you along the way, Strategy is the little brother, needing guidance, and who cannot exist successfully in the absence of ‘big brother’! They, therefore, have a tandem and reciprocal relationship.

ebook

First published May 18, 2015

About the author

Can Akdeniz is entrepreneur, consultant and book author. He is regarded as one of the most inspiring business authors of our time. His books address an array of important business topics from general topics like productivity to more specific topics like the value of being seen as a "cool boss." In addition to running the acclaimed business blog businesshacker.co, Can has released numerous books that have collectively changed the way people think about business and achieving success.

Reviews

[Zac Stojcevski · Rating 2 out of 5]

I was excited by the title, disappointed by the content! Yes it is SIMPLY explained, capitalization intended. But did it provide more than a frontispiece of a basic text or even a Wikipedia article? Not really. There is such a thing as too dilute. Had the author or the publisher made it clear that you are getting a bare bones explanation, the disappointment would not be anywhere near as great.

[Adam · Rating 4 out of 5]

Basic explanation of terms, key concepts, and context: a great launching point for further study.

[Fed · Rating 5 out of 5]

This is a great introduction to game theory. It motivated me to dig deeper to understand more.