Kenyon E Jeff Lerner Review
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The Art of Strategy: A Game Theorist's Guide to Success in Business and Life Illustrated Edition, Kindle Edition
by Avinash K. Dixit (Author), Barry J. J. Nalebuff (Author) Format: Kindle Edition
4.5 out of 5 stars
"I find it difficult to think of a different book that has the mix of practical knowledge and enjoyment reading ."--Steven Levitt
Game theory refers to a thorough strategic thinking. This is the process of anticipating your opponent's future move, knowing that your opponent wants to accomplish the exact same similar thing to you. While some aspects of game theory are based on basic concepts, there is a lot that is a bit nebulous, and is only possible to master it through the development of a new method to see the world. Through a variety of case studies that span television, pop culture movies as well as sports, politics and even history -- the authors demonstrate that nearly every personal and business interaction is a game-theory element to it. Understanding game theory can ensure your success in life and business This lively book is the best way to achieve the ability to master it.
Changed the way I think about a lot of situations.
Reviewed in the United States on December 27, 2016
Great book. Being a military officer, I've read a lot of of books on Strategy. I think the book is misnamed, it is really a primer on game theory. What is the difference between Game Theory and Strategy you ask? Game theory is primarily mathematical. It uses math to guide decision-making. If you have good data on probabilities of different courses of action or a reasonably bounded problem, game theory is extremely helpful. Strategy, as the book title suggests, is more of an art when you don't have a lot of data on probability. I found this book was really good when thinking through decisions a coach or manager would make in sports, such as when to go for two-points instead of one, how to decide which way to kick on a penalty kick. Some great insights here.
As an example, one of the insights from the book is that if your opponent would gain an advantage if they knew your course of action ahead of time, there is an advantage to you to include some level of randomness in your decision-making. It uses the example of a penalty kick in soccer. Even if you're better kicking to the right, if the goalkeeper knows ahead of time which way you will kick, your chances of scoring a goal will decrease. You can increase your chance of scoring by randomly deciding to kick to the left some percentage (here is where the math kicks in) even through you aren't as good kicking to the left. Same would apply to a football team on the goal line. Even if you are much better running the ball, you will have a better chance of scoring touchdowns if you throw the ball a certain percentage of the time. Again, the math proves this even if you aren't a believer.
147 people found this helpful
Very good, purchase and keep it.
Reviewed in the United States on December 12, 2018
I greatly enjoyed this book. The authors used both contemporary pop culture and non-contemporary references. It was very easy read and enjoyable. I had to get it for one of my Master of Data Analytics class. It was way better than the class. I was able to understand everything they said though I also have my MBA with Stats concentration, so take that for what it's worth.
The authors will bring up a topic then use an example of it or use an example to bring up a topic. The examples they picked were very good though I grew up in the 80s and 90s which I'm guessing the authors did as well.
If I hadn't taken that class, I would totally get this book. Very well written with good information!
This book is a purchase and keep it.
12 people found this helpful
Reviewed in the United States on January 1, 2020
I really enjoyed the book as I am fond of the subject, but also because it is written in an approachable style. As the authors openly admit, the book is intended for those rather new to the topic. It has many hypothetical examples to highlight each particular aspect of decision making theory. If you are already somewhat familiar with game theory you might find the book a bit boring for that reason. The examples are intentionally oversimplified and they often dominate the content of a chapter. There is even a section at the end with exercises for the reader to practise after reading the whole book. All in all, a book for entry to mid level amateur game theorists.
6 people found this helpful
Reviewed in the United States on September 2, 2017
Believe it or not, this book has helped me better understand my bosses way of thinking. Now, I honestly feel like he's predictable. With that, I am able to be more persuasive and better prepared as it helped me gain some insight on how the mind works.
The focus of this book was not targeted towards any industry and/or business - but that was what I got from it. I guess that was the case because of where I was at in life and the battles I was faced with.
Either way, it would bring some good value to your way of thinking and engages its readers with an interesting message.
3 people found this helpful
Awesome book. I didn't have much experience or knowledge ...
Reviewed in the United States on May 16, 2017
Awesome book. I didn't have much experience or knowledge about game theory, but this book has changed that! The authors do a great job laying out simple but practical examples that help you understand the concepts, and even add a little humor in there too!
6 people found this helpful
Enjoyed the examples and methodology
Reviewed in the United States on November 30, 2020
Great way of explaining strategy. Looking forward and reasoning back makes total sense. Applaud the examples and formulas. Explained examples in a pretty easy to understand way, and also included formulas (for the braniacs).
Reviewed in the United States on February 23, 2016
I was required to have this book for a Strategy Games course I took. It's a rather fascinating read. Far better than a textbook, it's engaging, explains concepts clearly, and has good examples. For anyone looking to gain a grasp on business tactics and strategy, I would highly recommend it.
4 people found this helpful
Reviewed in the United States on September 13, 2017
Such a great well-written book. I highly recommend it for anyone who is interested in growing and learning new game theory strategy. It is also great for beginners!
One person found this helpful
Covers the theory..need practical examples
Reviewed in the United States on July 26, 2011
This book covers the Game Theory very well and is an excellent text for beginners. What this book made clear to me is that Game Theory is not just about strategy only. It is rather an explanation for behavior of people in different situations. In general, it is a very big and vast topic and it won't be justified to expect one book to cover it all. The authors of The Art of Strategy: A Game Theorist's Guide to Success in Business and Life have made a great attempt to provide an overview of the various aspects and situations.
Actually, the first chapter itself is a good summary of the whole book and is aptly titled "Ten Tales of Strategy". In subsequent chapters, they develop these ten strategic moves with examples. A few of the strategies discussed include, art of backward reasoning, prisoner's dilemma, dominant strategy, etc.
The last chapter of the book is about case studies, which further help to increase the knowledge of concepts. They could have made the book better by picking up some more examples from real life with business and corporations, since they help more to relate and out these theories in context.
5 people found this helpful
Reviewed in the United States on February 2, 2018
This book is pretty incredible. The math is pretty easy to follow, one chapter I had to look back at old text books to figure out what was going on but I do believe this is a book everybody should read. The voting chapter should be required to be read before voting in a primary.
One person found this helpful