Game Theory: A Nontechnical Introduction

Rating:
Summary: good introduction to game theory
Review: although not as fun to read as evolution of cooperation, this book is still an easy read and broader in scope. there is a little bit of everything in here. this is a good book if you want practice on making decisions even though the author cites research that shows we naturally do a good job learning how to make decisions in games without formally studying.

Rating:
Summary: An Introduction to Game Theory
Review: 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.

Rating:
Summary: A good attemtp at a difficult undertaking...
Review: Davis' book suffers from its very nature -- it attempts to explain a highly technical, that is, mathematical, subject without using mathematics. Davis is only partially successful in avoiding the use of mathematics; given the almost impossible nature ot the task, he does quite a good a job at explaining game theory.

The chapters on zero sum games hold together nicely and manage to leave the reader with an understanding of their nature as well as how to arrive at a Pareto-optimal solution. (Small rant: It drives me absolutely bonkers when I hear business school grads tossing around the word "Pareto" as if they had any idea of what they spoke!) When non-zero sum games are introduced, however, Davis simply cannot overcome the complexity of trying to explain multi-variable solutions with mere words. He resorts to quasi-mathematical explanations or makes assumptions that would not be at all obvious to the lay reader.

This book is an excellent refresher in game theory, or a good primer for those with some knowledge of the topic and some intuitive mathematics.

Rating:
Summary: Recreational Read
Review: 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:
Summary: An easy to understand introduction to game theory
Review: I found this book at a used book store and while I generally need little prodding to purchase a math book, in this case a quick glance through the first few pages convinced me to purchase it. Although human emotions are powerful forces in our lives, many of our decisions are still made based on rational thought and perceived benefit. This is the realm of game theory, which is an analysis of decision-making based on the interpretation of rewards and punishment.
The first games examined in this book are the standard ones of two-person zero-sum games, first with and then without equilibrium points. A two-person zero-sum game is one where the winnings of one player must match the losses of the other. In other words, the sum total of value held by the two players is a constant. This is followed by an examination of utility theory, which is a determination of the true value of the rewards and punishments. It is here where emotions and personal preference are the strongest. Something as simple as bragging rights can often have more value than large monetary payments. The next chapter deals with two-person non-zero-sum games, where the total value held by the two players is not a constant. The last chapter deals with n-person games, which are difficult to analyze, but are the most interesting because they are closest to life. Success in n-person games almost always requires the formation of a cooperative, in the sense that there is the potential for a coalition that can dominate everyone else.
What I enjoyed the most about this book was the examples and the problems. At the start of the chapters, there is a set of questions that introduce the material, and they are answered at the end of the chapter. In between, the explanations are clear, with a minimum of formulas. I also enjoyed the sections on the various "games" of voting, such as how does a body of legislators decides how to fund projects when each has their pet project that they want to acquire the funding for. It explains some of the labyrinthine features of the congressional process and why it is possible for a deadlock state to develop.
This is one of the best general introductions to game theory that I have seen, the worked problems take you through the features of the games in a step-by-step manner that is very easy to understand.

Published in the recreational mathematics e-mail newsletter, reprinted with permission.

Rating:
Summary: Solid non-technical peek into the subject
Review: The book covers the most interesting concepts and examples from Game Theory which are usually covered in first couple of chapters in a more serious book. However, this book is intended mostly for casual audience which might be even seeing "The Prisoner Dilemma" for the first time. The book was actually very useful for me since I had to find some book to do a quick recall of basic things because I had to give a simple lecture and I had left the research in the field for couple of years... If you want to see if you (or someone else) might be interested in game theory, start with this book. If you are already working in the field, you might skip it completely.

Rating:
Summary: Recreational Read
Review: 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:
Summary: Recreational Read
Review: 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:
Summary: A must for beginner
Review: This is an extremely well written book. It strikes a good balance between a mere book of giving skin deep introductory knowledge of game theory, and a book with too much technical stuff (esp. mathematical proof). The author made a good job almost like Stephen Hawking and Richard Feyman to explain difficult thing with an easy and friendly way. What's more, the author included also many varies paradoxes, theroms from many great leaders in the game theory's field. In beginning of each chapter, the author listed some questions for the reader to think about, before moving forward. I must say this is a very good book for those who are not very sophisticated and advance in mathematics, or as a very first entry for anyone who wants to pursuit and learn game theory.

Rating:
Summary: A must for beginner
Review: This is an extremely well written book. It strikes a good balance between a mere book of giving skin deep introductory knowledge of game theory, and a book with too much technical stuff (esp. mathematical proof). The author made a good job almost like Stephen Hawking and Richard Feyman to explain difficult thing with an easy and friendly way. What's more, the author included also many varies paradoxes, theroms from many great leaders in the game theory's field. In beginning of each chapter, the author listed some questions for the reader to think about, before moving forward. I must say this is a very good book for those who are not very sophisticated and advance in mathematics, or as a very first entry for anyone who wants to pursuit and learn game theory.