Customer Reviews

Rock, Paper, Scissors: Game Theory in Everyday Life

5 star:		(7)
4 star:		(8)
3 star:		(5)
2 star:		(4)
1 star:		(4)

 

 

A good example of how to write at the "popular" end of the popular science spectrum. Game theory in general deals with settings in which each player has to choose one of several strategies without knowing other players' choices, and gets a payoff depending on everyone's choices (note this is rather different from what we call games in everyday language). Such games typically have a Nash equilibrium, which (roughly speaking) is the result when players behave selfishly; but there may be some different "cooperative" choices of strategies that would make everyone better off (a "social optimum"). This paradox or "logical trap" is usually illustrated by the Prisoner's Dilemma story. Observing where this situation occurs and contemplating ways of getting around them by "self-enforcing strategies" -- how cooperation might be achieved in the face of temptations to cheat -- are the main themes of the book, which is well paced and engagingly easy to read. Some highlights are

(1) Discussion of "7 deadly dilemmas" given cute names by theorists (Prisoner's Dilemma; Tragedy of the Commons; Free Rider; Chicken; Volunteer's Dilemma; Battle of the Sexes; Stag Hunt) -- models in which there is math theory.

(2) A lengthy verbal discussion of strategies to promote trust and cooperation (e.g. making it costly to change your mind later; deliberately cutting off your escape routes).

(3) Martin Nowak's 5 rules for the social evolution of cooperation.

While the in-text accounts of scientific studies in the human social world or in biology are conversationally casual, the end-notes (comprising 1/5 of the book) provide citations to the scientific literature -- a definite improvement on most books at this level.

All popularizers tend to exaggerate the scope of applicability of their subject, but this book less so than most. Let me just mention two ways in which the real world is more complicated than the book implies.

(4) Except in special cases where the payoff is money and nothing else matters, the payoff has to be modeled as some number of abstract "points" (or "utils", in jargon) which one can't actually measure. And then any observed behavior can be construed as optimal behavior in some game theoretic model. So game theory is more like a useful way of thinking about issues, and less like a traditional scientific theory which makes testable predictions

(5) In complicated real world economic situations, trying to make everyone better off is both fiendishly complicated and involves some kind of tax and subsidy scheme; introducing such things creates its own moral hazard outside the context of the one particular game.

Having just picked up this book as a game theory practitioner, I found this to be an excellent read. My work which centers primarily around the work of Thomas Schelling has led me to a variety of books on the game theory topic. Even Dr. Schelling, who has a comfortable writing style, evokes examples beyond the "everyday" realm, applicable to political and global challenges, more frequently than the cocktail parties and family life.

I found this book ties together the work of many of the top thinkers in the field, including recent Nobel Prize winners, taking a breadth rather than depth approach and at the same time provides the accessibility and application to experiences in everyday life. The few diagrams, and limited "math" will lower the barrier that other fine writers have created in their coverage of the topic. This is not to say it is "dumbed down". Quite the contrary, it is put in an everyday perspective and therefore worthy of consumption by a wider audience.

For further information, and for delving more formally into the topic, an extensive bibliography is provided, itself about 20% of the book. For the person interested in looking beyond this books level, there are many references to research.

All in all I think it fills a specific gap existing in connecting this important topic to our everyday lives. This topic, which explains so much about our relationships, how we do cooperate, and frequently don't , is worth a good read.

This book is a very, very elementary introduction to game theory. If you know anything about game theory at all, expect to get very bored, very fast reading this book. As another reviewer wrote, it is heavy on fluff, and light on actual theory/math/science, so if you are looking for a book that will make you think, this is not it.

This book is not about game theory. The author touches on the subject for the first few chapters and then goes on to simplify it to the point of distortion and fill this book with pop-science fluff.

For a much better book on the topic, try The Compleat Strategyst: Being a Primer on the Theory of Games of Strategy It's put out by Rand, and it looks like it would be really dry, but it's the best intro to game theory that I've read- it's easy to understand, helpful, and even a bit funny in a playful way.

People are simply not as cooperative as we would like them to be, and this seems to be a never-ending source of human frustration. People defect on contracts. They cheat on taxes but use the public services these taxes pay for. Politicians and businesspeople often collude in backroom deals that benefit them to the detriment of others. I could go on and on, but I am sure that you could too.

Game theory is a branch of economics that explains these frustrations by use of games meant to replicate real world transactions. Rock, Paper, Scissors is a book written to explain this simple-yet-complicated branch of economics to interested readers who do not want jargon. Len Fisher has indeed written a very engaging book that explains the fascinating basics of game theory, showing the reader not only what it is but how it applies to every day situations. After reading the book, you'll be able to see how defectors on contracts are engaged in game of "stag hunt," tax-avoiders who use public goods illustrate the "tragedy of the commons," and how the reason it is hard to get folks to be the first to volunteer is part-and-parcel to the "volunteer problem."

First, FIsher explains the basics of game theory, which is premised on the idea that when engaged in zero-sum (one gains only at another's loss) situations, people must often decide between higher but often riskier selfish gain, or lower but (possibly) smooth cooperative gain. Thus, if you and I have made a verbal agreement where I will give you x in return for you giving me y, we can either make the trade or one of us can defect after the other has given us what has been promised. Defecting may be more profitable but riskier (as the defector risks retaliation, harm to reputation, etc), while cooperating will lead to smaller but more assured gain (ASSSUMING that the other person does not defect after we cooperate).

It is a juicy dilemma and Fisher demonstrates how this simple idea is the cause of so many of the world's problems. Getting folks to give up nuclear weapons, for instance, is a game theory dilemma because no group wants to risk giving up weapons unless they are assured that others will do the same (and that certainty is virtually impossible to get). Employer/employee relations can be a game theory problem becuase both parties are trying to find the "Nash Equilibrium" of getting the most from the other while having to give up the least (without either party terminating the contract). Etc, etc.

Perhaps the best thing about Fisher's book, though, is that after he demonstrates the real-world relevance of game theory, he ruminates on ways (a) that cooperation has developed out of self-intersted actors, and (b) how we can design ways to minimize the problems of game theory on social interactions. To do the first, he draws a lot on work done in biology where theories like "group selectin" and "reciprocal altruism" may have led to "survival of the altruistic" every bit as much as "survival of the fittest." As far as how we can design ways to get around game theory dilemmas, Fisher shows how we can design social mechanisms that make it costly for defectors to defect (so as to minimize or negate their incentive to do so). And then there is that bit about quantum physics, but you'll just have to read the book to find that out!

The only thing I did not like about the book was Fisher's constant referral to his highly uncontrolled experiments to do with game theory ("Once, I decided to try out this theory at a wedding using slices of wedding cake...") While they are, in a certain sense, fun, they also made me feel like I was reading something far less than a scientific explication. I think Fisher may have done better to synopsize more of the real experiments that have been done around game theory, as they are even more fascinating than the 'wedding cake' experiments.

That said, this book is absolutely great for those who are curious about game theory and want good explanations without mathematical and economic jargon. Fisher really digs into the psychological side of game theory and practically ensures that readers will not look at the world in the same way again.

I knew little about game theory before reading this book so I expected to increase my knowledge a lot in an area that was new for me. I did learn some interesting concepts and terminology but for the most part I was disappointed. Fisher's examples of game theory were childish and unscientific - mostly about his personal experiences as a kid or dinner parties as an adult. While it makes for a light read, it will do little to expand your knowledge. There was little mention of any controlled scientific studies. A lot of the stories, like the Kitty Genovese murder in NYC in the 1970's, have been written about countless times. There was also little analytical and thoughtful discussion about serious situations where we observe game theory like in conflicts among countries. If you know little about game theory, you will learn some new tools but do not expect to be dazzled by this superficial covering of the topic.

Game theory is one of the most useful tookits we have, a juncture where mathematics, economics and behavorial science meet. Fisher's book tells you what you need to know and how to use it Written in his witty, articulate prose, it is a fun and compeling read. Do not let that fool you: this is serious science, and a serious book. On a personal level, game theory can help sibling rivalry, divorce, contract disputes, and getting out of a bar fight in one piece. On larger scales, it can help us all share a fairer world: a more fair allocation of resources getting scarcer all the time, attempts to control nuclear weapons, and, yes, global warming.
The best science book of the last two years.

This book explains everyday occurrences of subjects analyzed and explained by game theory (a socio-mathematical theory that analyzes human cooperation and competition). It explores the ways that Nash Equilibriums - the most common expression of game theory - manifest themselves in our daily lives, looks at major models for dealing with cooperation and competition (like I-cut-you-choose), and talks about other related issues, such as the most common logico-social dilemmas that game theory deals with and the issue of building trust.

There's no doubt Fisher is a skilled writer. He interweaves humorous stories of his own game theory experiments with explanations and detailed illustrations of the theories he's working with. In that respect, it's fun and pretty easy to read. The drawback of the book lies with the weakness of game theory itself, at least as far as he's explained it. More than anything else, it seems to be just a mathematical model of psychological phenomena, and it doesn't appear to really offer much that's new in the way of explaining how human beings interact with each other. Fisher, though, thinks otherwise. His claims about the revolutionary insights of game theory (particularly in the introduction) are pretty extreme: "This trap [people cheating for their own benefit in a situation in which cooperation with others would benefit everyone] has been with us for time immemorial. Examples can be found in the Bible, the Koran, and many ancient texts ... Its true nature was not understood ... [until] the advent of game theory ... reveal[ed] its inner workings." Yeah. Good thing. Recommended, but not earth-shattering.

Rock, Paper, Scissors by Len Fisher, is a good basic introduction to applied game theory. This book however is not what you would expect. It does not go over game theory in detail, but rather it describes how game theory is found in everyday life. Game theory as described by this book, can be found everywhere from crowded nyc sidewalks, to the workplace, to common interactions between humans. By studying the game theory that is present in certain situations, one can grasp a better understanding of how situations arise, and how they are resolved.

I found personally, that this is an easy read, as far as reading level is concerned. This is good to an extent, however, because of this, the book lacks detail, and remains theoretical. The problem I have found with this book is that it is not about game theory. It is actually very difficult to get a grasp on game theory from this book. I needed supplemental material in order to fully understand what was going on. It also became very clear how the problems that arise on a day to day basis were mainly pulled from the author's experiences. This is good because it allows the author to more clearly and precisely convey his points.

That being said, this is a very good introductory book to how game theory can be applied to events that we encounter everyday.

This is a great book, but if you are looking for a lot of 'textbook' game theory you may be left wanting more. Talks very qualitatively and easy to understand to anyone out there on the street. The examples are good and the author does relate to his everyday life. I'm sure you will find it an enjoyable read, but if you are the technical sort be ready to go on a quest for more game theory!