Game Theory at Work: How to Use Game Theory to Outthink and Outmaneuver Your Competition

Rating:
Summary: An easily underststood and enjoable introduction
Review: "Game Theory at Work" provides a good way to understand both the basics of the theory and how it works in the real world.

Although there can be a great deal of number crunching involved in game theory, Miller keeps this to a bare minimum and, thus, makes this book very accessible. At the same time, his interesting examples make the book enjoyable. Many of the examples are from how game theory can be used to explain what has occurred in history, such as why communism fails because of its ignorance of game theory (as well as ignorance of other parts of economics). Other examples are of how you can use game theory, such as in how to align your employees' interests with your own.

Miller also inserts humor on occasion, which, unfortunately, another reviewer completely misunderstood as arrogance.

One must remember that game theory, as well as many other economic theories, is in part based on assuming that people will always make rational decisions, which, of course, does not always occur. Nevertheless, if you are interested in learning about the basics of game theory and how it is at work in the world, then this easily understood book is for you.

Rating:
Summary: Review after reading so many negative reviews
Review: I bought this book before knowing these unfavorable comments of this book.

I have studied some game theory stuff at postgraduate level. I have read three chapters of this book: Ch.10 on price discrimination; Ch.14 on bargaining and Ch.15 on auctions. Frankly speaking, the materials and examples given in the book are not new. You can easily find them all in Thinking Strategically, Coopetition, Information Rules and some other game theory books. For a reader who has already read some other similar introductory books on game theory, you can save your money. However, if you are new to game theory, this book is worth reading. The writing style is entertaining and the examples are clearly explained.

Rating:
Summary: Easy Introduction to Game Theory
Review: The author purposely leaves out any complicated mathematical equations and convoluted logical reasoning. Instead, he writes a well written and easy to read introduction to different strategic situations which the game theory applies. Although it is true the book contains no new information on strategic thinking and game theory, it is nonetheless a valuable addition to any strategic thinker's library. The author provides plenty of hypothetical situations and the optimal choices based on the game theory.

Rating:
Summary: Entertaining and Practical Book
Review: This book was an excellent read. It provided some very useful food for thought. Miller gave a fresh perspective on the Game Theory and how to apply it to the real world. For someone who is not that familiar with this theory, the author was able to apply the concept to some very practical concepts. The humor helped to make this an enjoyable experience. I have suggested my friends in business to read this as well as my students in my Economics courses. The author has convinced me to apply the theory when asking for my next pay raise.

Rating:
Summary: Alternative to novels; nothing practical or useful
Review: This is a vain attempt to take a technical topic and present it in easy language. The author runs out of things to convey after the first 3 chapters