Book Summary: the Art of the StrategisteBook - 2014
"Game Theory" is a model conceived and most often used in academia. However, Dixit and Nalebuff argue convincingly of its relevance and use in a wider context, because Game Theory aids strategic thinking. In The Art of Strategy, they explain the basic rules: for example, look forward and reason backward; use any dominant strategies; eliminate any dominated strategies. They break down each section into easy-to-understand segments and relatable examples. For the concept of looking forward and reasoning backwards, they recommend that the good strategist thinks: "if I do this, then my rival will likely do this; what should my response be?" Every chapter gives real-life demonstrations of Game Theory in action: Pepsi and Coke don't give away discount vouchers at the same time, because they have worked out that that will damage both of them; no computer companies publish information about how many pages your printer ink will last, only how much the printer itself costs. (Showing that cooperation can be a powerful business tool, and that perception of value is often more important to a customer than the monetary value.) The Art of Strategy will be fascinating to theorists, as well as applicable for businesspeople.
Publisher: [United States] : Business Book Summaries : Made available through hoopla, 2014
Branch Call Number: eBook hoopla
Characteristics: 1 online resource