Order from a Major Online Bookstore
Ultimate Book Price Comparison Engine
Save Your Time And Money
| AnyBook4Less.com | Order from a Major Online Bookstore |
|
| Home | Store List | FAQ | Contact Us | | ||
| Ultimate Book Price Comparison Engine Save Your Time And Money |
||
 |
Title: Game Theory : A Nontechnical Introduction by Morton D. Davis ISBN: 0-486-29672-5 Publisher: Dover Pubns Pub. Date: 10 July, 1997 Format: Paperback Volumes: 1 List Price(USD): $9.95 |
Average Customer Rating: 3.71 (7 reviews)
Rating: 3
Summary: Recreational Read
Comment: There seems to be a whole cottage industry of books on Game Theory. Not many of them are non-technical, and this is probably the shortest of them. So this is a plus to those with no background and who may not go any further. This book suffers from being slightly out of date.
Game Theory is a subfield not of mathematics but of economics. This despite the fact that one of the greatest mathematicians, Von Neumann, had invented this and that at the advanced level it demands a good deal of higher math. This is a reason why John Nash won the Nobel for economics - and not a Fields Medal (for mathematics).
I think it's dangerous to make life-and-death decisions based on Game Theory. First, it's hardly a real science, only the application of mathematics to social questions. Second, you can easily make an error in your calculations.
This brings to mind Franklin's moral algebra. He advised a friend (Priestly, I think) on how to make intelligent decisions: by dividing the pros and cons into two columns, then giving a value to each in terms of importance (1-10, for example), adding up both columns and comparing the two sums. The larger sum should be the decision. And then he cautioned that real decisions are not necessarily made in this scientific way, although the exercise really sharpens your thinking. At a minimum it forces you to think of all possible pros and cons of a problem. In the end, though, one big pro/con (or two) may decide the matter. And even then, you can't be sure you've made the right decision because maybe you've forgotten something in the arithmetic. Still this is a rational way to think something through, especially on major questions.
The utility of Game Theory is likely to be much less than Franklin's scheme because PEOPLE IN THE REAL WORLD DON'T BOTHER USING IT. Would Roosevelt and Truman have done much better when dealing with Stalin if they had been acquainted with Game Theory? I doubt it, although Game Theory impressed some of the geeks in the Pentagon. (Nor vice versa. Stalin would have just laughed if somebody had tried to "sell" him this academic exercise. He relied on his own judgment.) To this day I have yet to hear that Game Theory is the secret of success of top managers like Jack Welch, Warren Buffett and Sandy Weill.
This book is a good intro to the field and teaches you the basic vocab specialists use. Read it like a book on recreational brainteasers, and you'll have lots of fun. I know I did.
Rating: 4
Summary: Recreational Read
Comment: Game Theory is worth a second look, a Nobel Prize having been awarded in 1994 to John Nash, et al. The official Nobel press release specifically cites Von Neumann and Morgenstern as its father. Had both been alive, they might have been the recipients of the prize.
There seems to be a whole cottage industry of books on Game Theory. Not many of them are non-technical, and this is probably the shortest of them. (Another is written by JD Williams: "The Compleat Strategyst" - note the spellings - also from Dover.) So this is a plus to those with no background and who may not go any further. This book suffers from being slightly out of date.
Game Theory is a subfield not of mathematics but of economics. This despite the fact that one of the greatest mathematicians, Von Neumann, had invented this and that at the advanced level it demands a good deal of higher math. This is a reason why John Nash won the Nobel for economics - and not a Fields Medal (for mathematics).
I think it's dangerous to make life-and-death decisions based on Game Theory. First, it's hardly a real science, only the application of mathematics to social questions. Second, you can easily make an error in your calculations.
This brings to mind Franklin's moral algebra. He advised a friend (Priestly, I think) on how to make intelligent decisions: by dividing the pros and cons into two columns, then giving a value to each in terms of importance (1-10, for example), adding up both columns and comparing the two sums. The larger sum should be the decision. And then he cautioned that real decisions are not necessarily made in this scientific way, although the exercise really sharpens your thinking. At a minimum it forces you to think of all possible pros and cons of a problem. In the end, though, one big pro/con (or two) may decide the matter. And even then, you can't be sure you've made the right decision because maybe you've forgotten something in the arithmetic. Still this is a rational way to think something through, especially on major questions.
The utility of Game Theory is likely to much less than Franklin's scheme because PEOPLE IN THE REAL WORLD DON'T BOTHER USING IT. Would Roosevelt and Truman have done much better when dealing with Stalin if they had been acquainted with Game Theory? I doubt it, although Game Theory impressed some of the geeks in the Pentagon. (Nor vice versa. Stalin would have just laughed if somebody had tried to "sell" him this academic exercise. He relied on his own judgment.) To this day I have yet to hear that Game Theory is the secret of success of top managers like Jack Welch, Warren Buffett and Sandy Weill.
Game Theorists themselves disagree on the finer points: Davis in this book points out errors by Anatol Rapoport, for example. This should be enough to give us pause about Game Theory itself.
This book is a good intro to the field and teaches you the basic vocab specialists use. Read it like a book on recreational brainteasers, and you'll have lots of fun. No higher math is required (not even simple algebra) - just a little patience and the motivation to think things through. This is the only low-math intro I know of that covers both 2-person and n-person games of the zero-sum and non-zero-sum varieties in one slim volume.
Rating: 4
Summary: An Introduction to Game Theory
Comment: As the name implies, this is a non-technical introduction to a very complex and technical subject. As such, the writer walks a very fine line between making the subject matter understandable to the lay-person and providing scientific support for his arguments. He is able to do this with a mixed level of success.
The first few chapters of the book deal with relatively simple subject matter, two person zero sum games. In these chapters, the author is easily able to explain the concepts and solutions without getting technical. However, as the book progresses, the author grapples with ever more complex problems, such as two person non-zero-sum games and with n-person games. As the problems become more complex, the author's explanations become less well organized and clear. It is obvious that behind the arguments stand solid mathematical reasoning, however since the book tries to avoid mathematics as much as possible, many of the explanations and assumptions remain vague.
Although I was familiar with many of the concepts in the book, this is the first book I have read on game theory. Was it worth it? Absolutely. Although I would have liked to receive more in-depth explanations in many cases, I felt that the book opened a window for me into this fascinating world. I was especially pleased with the many real world examples the author uses to illustrate the wide-ranging applications of game theory. These examples include an application of game theory to the evolution of species; and the use of game theory to determine who holds the power in a political system. More well known concepts, such as the Prisoners' Dilemma, are also comprehensively discussed.
Bottom line, this is a really enjoyable book that covers a very challenging subject. If a non-technical introduction to game theory is what you want, this is the book for you. However, if you are more mathematically inclined or have already read a book or two on the subject, you will probably want to pick up a more advanced book.
 |
Title: The Complete Strategyst : Being a Primer on the Theory of Games of Strategy by J. D. Williams ISBN: 0486251012 Publisher: Dover Pubns Pub. Date: 01 May, 1986 List Price(USD): $9.95 |
 |
Title: Prisoner's Dilemma by William Poundstone ISBN: 038541580X Publisher: Anchor Pub. Date: 01 January, 1993 List Price(USD): $15.95 |
 |
Title: Game Theory: Analysis of Conflict by Roger B. Myerson ISBN: 0674341163 Publisher: Harvard Univ Pr Pub. Date: September, 1997 List Price(USD): $28.95 |
 |
Title: Games and Decisions : Introduction and Critical Survey by R. Duncan Luce, Howard Raiffa ISBN: 0486659437 Publisher: Dover Pubns Pub. Date: 01 April, 1989 List Price(USD): $14.95 |
 |
Title: Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life by Avinash K. Dixit, Barry Nalebuff ISBN: 0393310353 Publisher: W.W. Norton & Company Pub. Date: April, 1993 List Price(USD): $16.95 |
Thank you for visiting www.AnyBook4Less.com and enjoy your savings!
Copyright� 2001-2021 Send your comments
