Decision Making Using Game Theory: An Introduction for Managers [Hardcover]

Anthony Kelly (Author)

Book Description

Publication Date: May 19, 2003 | ISBN-10: 0521814626 | ISBN-13: 978-0521814621

Game theory is a key element in most decision making processes involving two or more people or organizations. This book explains how game theory can predict the outcome of complex decision making processes, and how it can help to improve negotiation and decision-making skills. It is grounded in well-established theory, yet the wide-ranging international examples used to illustrate its application offer a fresh approach to what is becoming an essential weapon in the armory of the informed manager. The book is accessibly written, explaining in simple terms the underlying mathematics behind games of skill. It analyzes more sophisticated topics such as zero-sum games, mixed-motive games, and multi-person games, coalitions and power. Clear examples and helpful diagrams are used throughout, and the mathematics is kept to a minimum. Written for managers, students and decision-makers in every field.

Editorial Reviews

Book Description

This book explains how Game Theory can predict the outcome of complex decision making processes, and how it can help you to improve your own negotiation and decision making skills. Starting from first principals, it explains the underlying mathematics behind games of skill and games of chance, before moving on to explore more sophisticated topics such as zero-sum games, mixed-motive games, and multi-person games. Clear examples and helpful diagrams are used throughout, and the mathematics is kept to a minimum.

About the Author

Dr Anthony Kelly is a lecturer at the University of Southampton Research & Graduate School of Education where he teaches game theory and decision making to managers and students.

Product Details

• Hardcover: 214 pages
• Publisher: Cambridge University Press (May 19, 2003)
• Language: English
• ISBN-10: 0521814626
• ISBN-13: 978-0521814621
• Product Dimensions: 9.8 x 7.1 x 0.6 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 2.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #2,006,348 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

6 of 7 people found the following review helpful:

3.0 out of 5 stars A Solid Effort!, April 21, 2004

By 

Rolf Dobelli "getAbstract" (Switzerland) - See all my reviews
(HALL OF FAME REVIEWER)    (TOP 500 REVIEWER)    (REAL NAME)   

This review is from: Decision Making Using Game Theory: An Introduction for Managers (Hardcover)

Anthony Kelly's book will help you take a step back from the day-to-day fray, and be more strategic in your approach to solving problems. He explains that during conflicts, people operate in their own perceived best interests. Sometimes, combatants can find a common ground, but sometimes the conflict is a "zero-sum game," with a winner and a loser. To come out on top as a player or manager, take advantage of the approaches and concepts of game theory. A word of caution, this volume relies heavily on formulas and decision-trees that may be beyond the ready grasp of non-technically minded managers. For those who want to put emotion aside and think strategically, however, reading this book is a rational move. We recommend it to those with mathematical or analytical skills, and finds that it will prove useful even to non-analysts who want to learn the fundamental concepts of game theory.

1.0 out of 5 stars Poor editing, November 11, 2010

By 

Robert J. Lake (Apex, NC) - See all my reviews
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Amazon Verified Purchase

This review is from: Decision Making Using Game Theory: An Introduction for Managers (Hardcover)

Positives,

I like the layout and feel of the book. The condensed format is really good. Good to get practice and working quickly in a subject that usually peresented in an overcomplex fashion.

Negatives:

I have no idea how this book passed any QA. I have found many errors in the equations and in the examples. A simple example of this is page 25 figure 2.7 the lines on the graph are mis labelled they need to be swapped.

The line for the top of the constraint is labelled 20x + 8y >= 680 and should be labelled x + 2/5y <= 40

The line of the bottom of the contraint is labelles x + 2/5 <= 40 and should be labelled 20x + 8y >= 680


If your math is weak or you have limited confidence to challenge the author you will have difficulty in understanding how the examples work.

Shame.... Luckly I bought the book second hand. It certainly is not worth the full retail price...