Introducing Game Theory: A Graphic Guide (Graphic Guides)

by Ivan Pastine

players are forward-looking. They do the best they can at each decision node they encounter

Heck, this is most of the history of man. Folks doing the best they can.

Each applicant in the pool then makes sure that the other applicants invest in safe projects.

Social credit

In all walks of life people make decisions where their information is either imperfect or incomplete, or both. This has important implications for the strategic interaction between players, especially if one side is better informed than the other.

Making decisions with incomplete information is a requirements for good decision makers.