Author: Joel Watson. Title: Strategy: An Introduction To Game Theory. Date of publication: Year 2002 Publisher: W . W. Norton & Company. Read Pages: from page 1 to page 37. Setting: Author makes introduction to basics of strategy (game theory) in formal and non formal situations like in economics, business projects or everyday situations for example between wife and husband. In fields that can give full analyze of things, why they happened and, what made them happen. Summary: In the beginning of the book author introduces us with meaning of the word Strategy game theory).
With answers to questions like, what exactly does strategy mean, where can I use strategy, and what kind of benefits does strategy offer. Author uses specific everyday situations in very detailed descriptions, giving readers opportunity to understand meaning and results of strategy in certain cases, for every individual in own point of view. Further in the book author introduces readers with non cooperative and cooperative game theory once again using simple, but very detailed description of the events.
Moving further author introduces us to structure of the tragedy, taking two of most popular strategic forms extensive form and normal form which are used in non cooperative game theory. Author believes that it is possible to identify specific actions theoretical result based on lots of aspects, for example indirect effects of other people, and own choices. Author is analyzing this theory in the first chapter of the book, also describing non cooperative game theory in a use of extensive form. In analysis author uses man called Jeffrey Guttenberg and his decisions who lead to the world’s famous movie Anta.
In this kind of analysis author sees simply graphically constructed tree which is made of initial nodes and branches. Moving even further author describes us Jeffrey Sternberg complete contingent plan of initial nodes which enables to understand nature of his decisions. My opinions: Till now my opinions about the book are very positive. While I read this book I enjoyed author’s easy way of writing. I could even say that I really loved that he didn’t use lots of unknown terminology which in my perspective gave me the chance to better understand thoughts and ideas of the author.
Also very positive was idea of the tutor for describing particular things in every smallest detail, because in my case it would have been hard to understand terminology of complete contingent plan or who could be Jeffrey Guttenberg. I read only 37 pages, but I can clearly say that I got more understanding of this particular theory then I ever got by reading any other books of this kind in my entire life! I can only give all my respect to the author for making this field of science so easy to understand.
Vocabulary, terminology list: Strategy (is complete plan of moves in achievement of a specific goal) Non operative game theory (this type of theory examines individual decisions making in strategic setting) Cooperative game theory (this type of theory examines company’s and manager’s decisions made by influence of the formal contract) Extensive form ( is one of two formulas for the non cooperative game theory which is made on theoretical data and numbers)