Economics professor David K. Levine defines game theory this way:
What economists call game theory psychologists call the theory of social situations, which is an accurate description of what game theory is about. Although game theory is relevant to parlor games such as poker or bridge, most research in game theory focuses on how groups of people interact.
Of particular interest to conflict resolution professionals and scholars is the use of game theory to shed light on the way people behave when they negotiate or resolve disputes. (One of my favorite examples of this is the recent game theory analysis of the toilet seat problem.)
If you’re a game theory enthusiast, you’ll enjoy reading Game Theory Tuesdays, a weekly column by economics consultant and self-proclaimed math nerd Presh Talwalkar at Mind Your Decisions, a blog about personal finance, decision-making, negotiation, and, yes, game theory.
This week’s column has ideas on how to get someone to cooperate. Presh is an engaging writer with a great capacity for honest self-reflection and a talent for bringing game theory to life with real-world anecdotes. You definitely don’t have to be a math nerd to enjoy Game Theory Tuesdays.
{ 2 comments… read them below or add one }
Hi Diane. Thanks for linking to my blog and game theory articles. That toilet seat problem is a great one too. Oh, the things that you can apply game theory too.
Thanks for pointer, Diane.
You are right, Presh is an engaging writer -even if he did learn game theory at Stanford.