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

by James Miller

ISBN:0071400206

This is an accessible guide to applying game theory to every facet of business in order to improve strategy and decision making and emerge as a tougher competitor in the business world.

Table of Contents
	Game Theory at Work — How to Use Game Theory to Outthink and Outmaneuver Your Competition
	Acknowledgments
	Chapter 1	-	Introduction
	Chapter 2	-	Threats, Promises, and Sequential Games
	Chapter 3	-	The Dangers of Price Competition
	Chapter 4	-	Simultaneous Games
	Chapter 5	-	Massive Coordination Games
	Chapter 6	-	Nash Equilibria
	Chapter 7	-	Prisoners’ Dilemma
	Chapter 8	-	Adverse Selection
	Chapter 9	-	Surviving with Limited Information
	Chapter 10	-	Price Discrimination and Other Pricing Strategies
	Chapter 11	-	Holdups
	Chapter 12	-	Spending Other People’s Money
	Chapter 13	-	Managing Employees
	Chapter 14	-	Negotiations
	Chapter 15	-	Auctions
	Chapter 16	-	The Stock Market
	Chapter 17	-	Further Readings and References
	Appendix	-	Study Questions
	Notes
	Index
	List of Figures
	List of Tables

Game theory—the study of how competitors act, react , and interact in the strategic pursuit of their own self-interest—has become an essential competitive tool in todays business arena. Game Theory at Work provides examples of how businesspeople can use this time-proven approach to successfully meet competitive challenges and, more often than not, claim the upper ground in each battle before it begins.

Game Theory at Work steers clear of the opaque mathematics and pedagogy that so often hamper practitioners of game theory, relying instead on lively case studies and examples to illustrate its remarkable methods in action. Complex yet comprehensible, it provides you with:

Methods for applying game theory to every facet of business
Strategies for instantly improving your position in virtually any negotiation
Game theory techniques to increase the output and value of each employee

At its essence, business is a game, albeit a profoundly serious game that must always be played to win. Game Theory at Work is the first plain-English examination of the use of game theory in business. Let it provide you with the intellectual tools you need to instantly understand every game youre playing, use that knowledge to your advantage, and consistently maximize your finish-line payoff.

About the Author

James Miller, Ph.D., J.D., is assistant professor of economics at Smith College. Dr. Miller has written over fifty articles on diverse topics, from game theory to Greek Mythology, e-commerce, and military strategy. His work has appeared in popular and professional resources, including the Orlando Sentinel, The Weekly Standard, International Review of Law and Economics, and Journal of Information, Law and Technology , and the Internet sites for National Review, CNBC, and Fox News.

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

James D. Miller

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Copyright 2003 by McGraw-Hill. All rights reserved. Printed in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a data base or retrieval system, without prior written permission of the publisher.

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ISBN 0-07-140020-6

McGraw-Hill books are available at special discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please write to the Director of Special Sales, Professional Publishing, McGraw-Hill, Two Penn Plaza, New York, NY 10121-2298. Or contact your local bookstore.

Library of Congress Cataloging-in-Publication Data

Miller, James D.
    Game theory at work : how to use game theory to outthink and
outmaneuver your competition / by James D. Miller.
      p. cm.
    ISBN 0-07-140020-6 (hardcover : alk. paper)
    1. Management games . I. Title: How to use game theory to outthink and
outmaneuver your competition. II. Title.
HD30.26 .M54 2003
658.4’0353—dc21                                                      2002013681

This book is printed on recycled, acid-free paper
containing a minimum of 50% recycled, de-inked paper.

James D. Miller is an assistant professor of economics at Smith College. He has a Ph.D. in economics from the University of Chicago and a J.D. from Stanford Law School. He has written on game theory in Greek mythology, computer encryption, perjury law, e-commerce, investing, genetic testing, Internet piracy and lotteries . His work has appeared in popular and professional resources including the Orlando Sentinel, The Weekly Standard, International Review of Law and Economics, Tech Central Station, Journal of Information, Law and Technology , and the Internet sites for National Review , CNBC, and Fox News.

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Table of Contents

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