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Games People Play: Game Theory in Life, Business, and Beyond
Ever since modern game theory—the scientific study of interactive, rational decision making—achieved prominence in the mid-20th century, it has proven instrumental in helping us understand how and why we make decisions. Game theory plays a crucial role in our lives and provides startling insights into all endeavors in which humans cooperate or compete, including biology, computer science, politics, agriculture, and, most importantly, economics.
For example, game theory
*has become an invaluable tool for economists, underpinning the theories of five Nobel Prize winners in economics;
*helps corporate decision makers through the alternatives of complex negotiations where thousands of jobs and billions of dollars may be at stake;
*plays a crucial role in international diplomacy and military strategy, influencing the fates of nations even when that influence may well be invisible to the uninitiated; and provides insights into the origins of human behaviors, not only for psychologists seeking to understand why we act as we do, but also for evolutionary biologists asking how those patterns of actions—as human strategies—were handed down.
You can even see game theory at work in the interactions you engage in every day, such as an obvious "game," like buying a car, or a less obvious one, like trying to decide where to go on a Saturday night or how you ought to dress.
A basic working knowledge of this profoundly important tool can help us cut through an often confusing clutter of information—allowing us to make better decisions in our own lives or better understand the decisions facing other players in games. In Games People Play: Game Theory in Life, Business, and Beyond, award-winning Professor Scott P. Stevens of James Madison University has designed a course meant for anyone looking to gain that knowledge. In 24 insightful lectures, he presents you with the fundamentals of game theory in a manner that is both engaging and easy to understand.
For example, game theory
*has become an invaluable tool for economists, underpinning the theories of five Nobel Prize winners in economics;
*helps corporate decision makers through the alternatives of complex negotiations where thousands of jobs and billions of dollars may be at stake;
*plays a crucial role in international diplomacy and military strategy, influencing the fates of nations even when that influence may well be invisible to the uninitiated; and provides insights into the origins of human behaviors, not only for psychologists seeking to understand why we act as we do, but also for evolutionary biologists asking how those patterns of actions—as human strategies—were handed down.
You can even see game theory at work in the interactions you engage in every day, such as an obvious "game," like buying a car, or a less obvious one, like trying to decide where to go on a Saturday night or how you ought to dress.
A basic working knowledge of this profoundly important tool can help us cut through an often confusing clutter of information—allowing us to make better decisions in our own lives or better understand the decisions facing other players in games. In Games People Play: Game Theory in Life, Business, and Beyond, award-winning Professor Scott P. Stevens of James Madison University has designed a course meant for anyone looking to gain that knowledge. In 24 insightful lectures, he presents you with the fundamentals of game theory in a manner that is both engaging and easy to understand.
124 pages, ebook
First published January 1, 2008
17 people are currently reading
513 people want to read
About the author
Scott P. Stevens
4 books2 followersDr. Scott P. Stevens is Professor of Computer Information Systems and Management Science at James Madison University in Harrisonburg, Virginia, where he has taught since 1984. Professor Stevens holds a Ph.D. in Mathematics from The Pennsylvania State University, where he received B.S. degrees in both Mathematics and Physics and graduated first in his class in the College of Science. Honored many times over for his remarkable abilities in the classroom, Professor Stevens has been a recipient of the Carl Harter Award, his university's highest teaching award; been named the outstanding graduate teacher in JMU's M.B.A. program; and has on five occasions been selected by students as the outstanding teacher in JMU's undergraduate business program, the first teacher to be so honored.
A frequent consultant in the business arena, Professor Stevens has been published in a broad variety of academic and professional journals, writing or collaborating on subjects as varied as neural network prediction of survival in blunt-injured trauma patients; the effect of private school competition on public schools; standards of ethical computer usage in different countries; automatic data collection in business; and optimization of the purchase, transportation, and deliverability of natural gas from the Gulf of Mexico.
A frequent consultant in the business arena, Professor Stevens has been published in a broad variety of academic and professional journals, writing or collaborating on subjects as varied as neural network prediction of survival in blunt-injured trauma patients; the effect of private school competition on public schools; standards of ethical computer usage in different countries; automatic data collection in business; and optimization of the purchase, transportation, and deliverability of natural gas from the Gulf of Mexico.
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Displaying 1 - 26 of 26 reviews
May 7, 2018
This isn't made for audio only as it relies far too much on tables that weren't even described. It would probably be OK if I had the study guide right in front of me, but I didn't. It's spring, so I was out transplanting, shoveling gravel, & weeding. No time to just sit. It's a really interesting field, not always particularly intuitive. The rational response is not necessarily the likely one.
While this lecture was far better at teaching me vocabulary, I don't think it was any better overall than Dawkin's The Selfish Gene for most of what I really wanted or needed to get about game theory. It goes into more detail, but was more confusing at times. Not a waste of time, but not as good as I'd hoped.
Thankfully, Goodreads has reinstated audio lectures as books, so I can now put this review under the proper book.
While this lecture was far better at teaching me vocabulary, I don't think it was any better overall than Dawkin's The Selfish Gene for most of what I really wanted or needed to get about game theory. It goes into more detail, but was more confusing at times. Not a waste of time, but not as good as I'd hoped.
Thankfully, Goodreads has reinstated audio lectures as books, so I can now put this review under the proper book.
July 16, 2016
Game theory is pretty interesting. It's also pretty difficult to follow when it's an audio rip of a video and he talks about graphs, matrices, and formula that I can't see.
Seriously though take some time to learn more about game theory. It's a pretty enlightening field.
Seriously though take some time to learn more about game theory. It's a pretty enlightening field.
August 16, 2023
Listened to this book: good stats, interesting stories, amusing fake-accents.
September 25, 2017
A series of lectures on the elements of Game Theory presented by Scott P. Stevens
September 7, 2018
This lecture series is audio ripped from a video course which is problematic to say the least since the lecturer references charts, matrixes and formulas that were obviously being displayed frequently. That being said its a good introduction to Game theory and gave me a bit of things to think and chew on. The lecturer also is engaging and insightful so most things I would want in a lecture series unfortunately the whole visual thing ruins an otherwise stellar course.
December 13, 2020
A very efficient introduction to game theory and several of its applications. In addition to teaching game theory quite well, I cannot think of a better course to take if you want to start studying microeconomics.
June 14, 2017
Game Theory! For a guy who likes to know why people do what they do, this lecture series is great! Game Theory is pretty much just using math to understand what actions a person will take. This is why math was invented, people! (100% joking, but not really). This series is very accessible to anyone - you don't need to even be good at math that well because the examples and games are easy to understand. A few highlights include Nash Equilibria, the Prisoners Dilemma, credible threats and promises, Arrows Impossibility Theorem (no voting system is perfect), and co-opetition. I highly recommend this even though the production quality could use a little boost.
September 17, 2015
This was a very in-depth look at Game Theory and its implications across a range of disciplines, from evolution to business. Intensely interesting, but much more mathematical than my mind can readily grasp. It was well-worth the extra effort, as this could help you attain deeper understanding in a variety of situations.
June 6, 2013
I wanted to have an insight about the Game Theory and this lecture did much more than that.
The way Dr. Stevens concluded the whole series in the last lecture was heart warming.
The way Dr. Stevens concluded the whole series in the last lecture was heart warming.
July 8, 2023
Highly recommended as an audiobook for anyone interested in the field of Game Theory. I've always been interested in the subject but never took the class in college. This book is more of an introductory lecture course than a textbook (and definitely not pop-sci bestseller pump). I found it very interesting, so I need to try to separate how much of this review is for the subject matter and how much is for the actual book. I do think the author/professor was great, he's clearly into the subject and his enthusiasm carries through. He clearly conveys that this is a quick introduction to the major game theories, and even includes some math (which he states is the core of GT) but you don't have to be able to follow any of it to understand the concepts. And the concepts, like Nash equilibrium, I was already kind of familiar with, but have a much deeper understanding of now. To keep things interesting, the author focuses on quirky and interesting examples rather than more common ones, which in hindsight wasn't very helpful. Instead of pointing out a fascinating exception, an introductory course should really present more common situations.
During, and after finishing this book, I've found myself identifying game theory in many everyday situations. It's certainly a different way of thinking. I'm not sure if I've been applying it yet, that might be the next step.
During, and after finishing this book, I've found myself identifying game theory in many everyday situations. It's certainly a different way of thinking. I'm not sure if I've been applying it yet, that might be the next step.
August 9, 2019
So this is my first read of this type of subject and I could quite say Game Theory is very interesting study.
My advice on taking this Scott Steven's work is not listen it on audio. Their are example scenarios that this book have on explaining a kind of matter and reading this book on audiobook can get you lost on some of them. You actually need to back track alot of it to get what he means..or maybe Im just bad at lectures.
This is my first introduction on the world of Game Theory and hoping to study more of it in the future.
My advice on taking this Scott Steven's work is not listen it on audio. Their are example scenarios that this book have on explaining a kind of matter and reading this book on audiobook can get you lost on some of them. You actually need to back track alot of it to get what he means..or maybe Im just bad at lectures.
This is my first introduction on the world of Game Theory and hoping to study more of it in the future.
December 22, 2020
Pretty thorough, and covered good content. Some of the tables and maths were hard to follow unless concentrating, which isn't really the fault of the course. This has so many applications, and I can see 'games' everywhere now.
November 12, 2021
A great survey course on game theory. Opened up my mind to a lot of things about relationships, business, sports, and international relations. If you aren't afraid of a little bit of logic, a fair amount of business, and a tiny bit of math this is a good watch or in my case listen.
November 21, 2022
A good non-technical introduction to the topic of game theory. You need to follow the audio with the book because of the tables, other than that I think he did a pretty good job at explaining the topic.
September 4, 2018
Interesting overview and I like the idea of Co-opetition and will be looking out for that book.
September 13, 2021
Nice introduction to game theory. Even these basics can enhance your decision making, bring understanding to how otther people make decision and overall improve your life. Good one.
December 5, 2021
Good book. I would have given it 4 stars but it poorly presented in the audio format(references to tables and graphics)
October 24, 2022
excellent introduction to the material - left me wanting to investigate references for more! Worthwhile, nuanced, and provokes thoughtful deliberation
June 18, 2023
"Businesses have to cooperate to create the pie before competing for the pieces"
January 9, 2010
excellent introduction to game theory. the course is very eloquently presented, and is filled with a multitude of real-life examples and corny mathematician jokes.
in particular, the chapters on signalling/screening, and threats/commitments as ways to change the nature of a game were surprising.
the employer/employee examples made me wonder if anyone ever modeled a software team as a multi-player game. especially in larger, distributed teams there is often a tendency to kick responsibility over a wall to another team or person, so i wonder what a company can do to avoid this sort of thing. certainly peer reviews seem like a good idea in this context, but there are probably other things worth considering.
in particular, the chapters on signalling/screening, and threats/commitments as ways to change the nature of a game were surprising.
the employer/employee examples made me wonder if anyone ever modeled a software team as a multi-player game. especially in larger, distributed teams there is often a tendency to kick responsibility over a wall to another team or person, so i wonder what a company can do to avoid this sort of thing. certainly peer reviews seem like a good idea in this context, but there are probably other things worth considering.
January 12, 2013
takeaways:
the war of attrition structure leads us to pay $400 for a $100 bill becsuse the cost of defeat as you just cross $100 us less than that at $90.
arrow's impossibility theorem says that no voting system can work perfectly, because it faiks to satisfy 3 properties: transitive property; independence from irrelevant alternatives; and unanimity. dictatorship is shockungly the inly methid that coukd satisfy the 3 propertues. this is why arrow's 4th property was ti disallow dictatorship as an outcome, thereby making a perfect voting system impossible.
the FCC's ruling on auctions fixed markets by following the Coase theorem.
the war of attrition structure leads us to pay $400 for a $100 bill becsuse the cost of defeat as you just cross $100 us less than that at $90.
arrow's impossibility theorem says that no voting system can work perfectly, because it faiks to satisfy 3 properties: transitive property; independence from irrelevant alternatives; and unanimity. dictatorship is shockungly the inly methid that coukd satisfy the 3 propertues. this is why arrow's 4th property was ti disallow dictatorship as an outcome, thereby making a perfect voting system impossible.
the FCC's ruling on auctions fixed markets by following the Coase theorem.
August 13, 2010
I was looking for a survey course or book on Game Theory. This was an excellent such overview. The material covered a broad spectrum of game theory, including its background, applications in a number of fields, and many enlightening examples. The presentations were enthusiastically presented and kept my interest throughout. As a survey course, it did not delve into the deeper mathematical aspects, but it definitely piqued my interest and gave recommendations as to where to find more detailed explanations and applications. Excellent and very well worth my time
March 1, 2015
This is an excellent introduction to game theory. I recommend it to managers, economists, political scientists-to anyone interacting with others in a role involving negotiation. I've watched it three times.
October 30, 2014
A fascinating introductory course on game theory.
November 20, 2012
Fantastic introduction to game theory!
The only thing that bothers me: it is not that suitable as an audio book. "On the pay-off matrix you see...".
The only thing that bothers me: it is not that suitable as an audio book. "On the pay-off matrix you see...".
October 6, 2013
Good. Allows me to recognise the actual games that happened daily.
Displaying 1 - 26 of 26 reviews