Game theory is about how to think in strategic terms.
Daniel
Daniel's notes on Art Of Strategy
Art Of Strategy by Avinash K. Dixit and Barry J. Nalebuff
Notes 13
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13 notes
in reading orderThe best weapon is the one you don’t have to fire.
Game theory, focuses on how a player should strategically behave to maximize his payoff, given the potential responses of other players.
Good players need not seek victory; they need only avoid defeat.
You need to anticipate the consequences of your actions not just for yourself, but for others too
To make good decisions, you have to consider not only how others will respond to your choices, but also how they expect you to respond to theirs.
In all business situations, you are a player in a game. Your ability to do well depends not just on your own actions, but on how others respond to them.
The fundamental concept of game theory is that people are strategic in their decisions. We anticipate and react to what others do.
Many people are afraid to play their best move. They are afraid that it will provoke the other person to do something terrible.
Sometimes, the best way to be taken seriously is to show that you can, and will, inflict real damage.
If you are too predictable, others can exploit you.
Avoid playing games you don’t understand, even if you see lots of other people making money from them.
Time is your enemy. Every day, it reduces your options.
Keep what you read, not just what you finished.
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