Wednesday, July 22, 2009

Game Theory

for everybody interested in Strategy
knowing about Game Theory is mandatory.
Game Theory is a mathematical approach to decision making and can help you make a lot better decisions.
Too often we think "oh it doesn't matter" or "well i don't have any influence on the outcome"
when it is simply not true. Most of the times we don't see the truth because it is covered in small distracting problems.
what math does is stripping a problem down to the essentials and helps seeing the obvious decision to make.
For starters i would recommend the TV show Numb3rs. It is one of those crime solving shows, but with the twist that a math professor is the driving force behind the team and provides the necessary evidence to solve the mysteries.
There are multiple books out there on the topic which can really help opening eyes to how often we give away advantages by not thinking through the problem on a more analytical/mathmatical level.

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