The Art of Strategy: A Game Theorist's Guide to Success in Business and Life [Hardcover]

Avinash K. Dixit (Author), Barry J. Nalebuff (Author)

Book Description

Publication Date: September 17, 2008

The authors who brought you the bestseller in game theory, Thinking Strategically, now provide the long-awaited sequel.

Game theory means rigorous strategic thinking. It's the art of anticipating your opponent's next moves, knowing full well that your rival is trying to do the same thing to you. Though parts of game theory involve simple common sense, much is counterintuitive, and it can only be mastered by developing a new way of seeing the world. Using a diverse array of rich case studies—from pop culture, TV, movies, sports, politics, and history—the authors show how nearly every business and personal interaction has a game-theory component to it. Are the winners of reality-TV contests instinctive game theorists? Do big-time investors see things that most people miss? What do great poker players know that you don't? Mastering game theory will make you more successful in business and life, and this lively book is the key to that mastery.

Editorial Reviews

Review

"It is an easy read and is written in a lively tone-which is not something I particularly recall from my lectures in the 1980s. Long live economics!" John Burns, The Times Higher Education "Unlike most of the ranks of management advice books which pad out bookshop business sections, here is one which is rigorous, fun and extremely useful all at the same time." The Economist --This text refers to the Paperback edition.

About the Author

Avinash Dixit is recently retired as the John J. F. Sherrerd University Professor of Economics at Princeton University, where he offered his popular freshman course in game theory for many years. He is among the world’s leading economists, having made fundamental contributions in several major fields, including game theory. He is the author of many books, including Thinking Strategically (with Barry J. Nalebuff, Norton, 1991), and  The Art of Strategy (also with Barry J. Nalebuff, Norton, 2009).

Barry J. Nalebuff is the Milton Steinbach Professor at the Yale School of Management. Nalebuff applies game theory to business strategy and is the co-founder of one of America's fastest-growing companies, Honest Tea.

Product Details

• Hardcover: 512 pages
• Publisher: W. W. Norton & Company (September 17, 2008)
• Language: English
• ISBN-10: 0393062430
• ISBN-13: 978-0393062434
• Product Dimensions: 6.5 x 1.6 x 9.6 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 4.2 out of 5 stars  See all reviews (24 customer reviews)
• Amazon Best Sellers Rank: #528,028 in Books (See Top 100 in Books)

Most Helpful Customer Reviews

137 of 146 people found the following review helpful

2.0 out of 5 stars Buy "Thinking Strategically" June 17, 2009

By J. Kim

Format:Hardcover

Of course. It is an updated version of their best selling book [Thinking Strategically]. I have taught an introduction to Game Theory course to college undergraduates for years and used their earlier version "Thinking strategically" as a textbook. Nalebuff and Dixit's effort on updating their classic became less than good news to college students. They put too much materials about their ABC documentary which was taken under Dr. Nalebuff's guidance while trying to put too much materials in otherwise a simple-clear book. I strongly recommend you to go to the bookstore and buy their earlier version "thinking strategically" rather than this 'confusing/messy" version.

14 of 14 people found the following review helpful

2.0 out of 5 stars Unnecessary after "Thinking Strategically" April 4, 2012

By Kara

Format:Paperback|Amazon Verified Purchase

There is absolutely no need to read this book if you've read Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life.

I'm not certain why they exist as two separate books. The content is almost identical, and 90% of the examples in this one were lifted from that. I have no idea why this is touted as a "sequel." It is not. It's just Thinking Strategically repackaged (but I will say that its package is prettier). The tagline says that it's a "guide to success in business and life," but it is not. It is game theory explained in an accessible way.

I love game theory. I studied economics in college, and game theory had been my favorite class. I enjoyed Thinking Strategically and looked forward to reading this one. I was disappointed. Had I not read Thinking Strategically, I probably would have found this enjoyable, but I'm giving it two stars for the false advertising.

38 of 46 people found the following review helpful

5.0 out of 5 stars Game Theory For Work AND non-Work Situations November 7, 2008

By Matthew L. Sadler

Format:Hardcover

If you like "game theory" -- or want to know what game theory is -- this could be the best book out there. Certainly there are more scholarly pieces on game theory, but this book is an A+ for its accessible writing, its use of examples that are interesting and a clear approach to point out how game theory comes into play every day for every person, whether we realize it or not. This book helps you understand the decision process in cooperative and competitive situations. It is better to know the "game" and how it is being played, than having the game played on you unwittingly. Highly recommended.

Also highly recommended, but more specifically for business applications, is Co-opetition, co-authored by Barry Nalebuff who is a co-author of The Art of Strategy.

7 of 8 people found the following review helpful

4.0 out of 5 stars good layman's intro to game theory October 4, 2009

By hydrangea

Format:Hardcover|Amazon Verified Purchase

A good book for a slow entry into the world of game theory. Some things are a bit wordy and hard to understand with few pictures/mathematical formulas, but nonetheless it is a good practical book for getting your feet wet.

2 of 2 people found the following review helpful

4.0 out of 5 stars Great primer for game theory March 2, 2011

By Michael Kidwell

Format:Kindle Edition|Amazon Verified Purchase

I was interested in finding out the basics of game theory to determine if I wanted to learn more about it and this book was perfect for that purpose. They use concrete, down-to-earth examples to illustrate the basics of game theory and how they can be applied in real life. I immediately found myself examining everyday situations from a game theoretical perspective and thinking about how I "signal" to others. Very engrossing read and definitely worth the time.

Bonus - the "Trips to the Gym" (opportunities to think about and apply topics discussed in each chapter) and case studies were great exercises to help me check my understanding of each principle, which was tremendously helpful.

8 of 11 people found the following review helpful

5.0 out of 5 stars Brilliant January 13, 2010

By fvardy

Format:Paperback

Wide ranging and written with exceptional clarity. This is by far the best lay man's book about game theory I have come across. A worthy successor to "Thinking Strategically."

1 of 1 people found the following review helpful

5.0 out of 5 stars INSIGHTFUL! February 10, 2013

By The bike guy

Format:Paperback|Amazon Verified Purchase

One of the most interesting and captivating reads I have purchased in a long time. Definitely a page-turner and best book of the year!

3 of 4 people found the following review helpful

4.0 out of 5 stars Covers TOTC very nicely April 27, 2011

By Hibernating Hummingbird

Format:Paperback|Amazon Verified Purchase

This book gives quality-time to my hero Garrett Hardin on "The Tragedy of the Commons" as the root of many problems. They even recommend Poundstone's "Prisoner's Dilemma", which would be my recommendation if you are just starting out, because no one can weave in the human interest to keep you reading like William Poundstone. Yet this book has way more technical content, presented accessibly, than "Prisoner's Dilemma".