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Game Theory at Work: How to Use Game Theory to Outthink and Outmaneuver Your Competition Hardcover – April 3, 2003

by James Miller (Author)

18 customer reviews

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An easy-to-follow, non-technical approach to using game theory in every business battle

Game theory has become entrenched in today's business world. It has also often required oppressive and incomprehensible mathematics. Game Theory at Work steers around math and pedagogy to make this innovative tool accessible to a larger audience and allow all levels of business to use it to both improve decision-making skills and eliminate potentially lethal uncertainty.

This proven tool requires everyone in an organization to look at the competition, guage his or her own responses to their actions, and then establish an appropriate strategy. Game Theory at Work will help business leaders at all levels improve their overall performance in:

Negotiating
Decision making
Establishing strategic alliances
Marketing
Positioning
Branding
Pricing

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

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Product Details

Hardcover: 288 pages
Publisher: McGraw-Hill Education; 1 edition (April 3, 2003)
Language: English
ISBN-10: 0071400206
ISBN-13: 978-0071400206
Product Dimensions: 6.3 x 1.2 x 9.1 inches
Shipping Weight: 1.4 pounds (View shipping rates and policies)
Average Customer Review: 2.7 out of 5 stars See all reviews (18 customer reviews)
Amazon Best Sellers Rank: #874,720 in Books (See Top 100 in Books)
- #214 in Books > Science & Math > Evolution > Game Theory
- #911 in Books > Business & Money > Management & Leadership > Strategy & Competition
- #1867 in Books > Business & Money > Skills > Decision Making

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2.7 out of 5 stars

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Top Customer Reviews

Review after reading so many negative reviews

ByKao Lap Shingon February 28, 2004

Format: Hardcover

I bought this book before knowing these unfavorable comments of this book.
I have studied some game theory stuff at postgraduate level. I have read three chapters of this book: Ch.10 on price discrimination; Ch.14 on bargaining and Ch.15 on auctions. Frankly speaking, the materials and examples given in the book are not new. You can easily find them all in Thinking Strategically, Coopetition, Information Rules and some other game theory books. For a reader who has already read some other similar introductory books on game theory, you can save your money. However, if you are new to game theory, this book is worth reading. The writing style is entertaining and the examples are clearly explained.

0Comment 53 people found this helpful. Was this review helpful to you?YesNo

You don't learn game theory this way!

ByYannison November 11, 2010

Format: Hardcover

Here is my opinion as someone who has published serious academic articles with applied game theory, and has taught several political science classes in game theory:

This book is a fake. It's not about game theory and it's certainly not written by someone who is either a researcher in that field or a seasoned teacher of game theory. The book does not teach you game theory. What it is is a kind of mediocre combination of the most basic concepts in game theory with either silly or borrowed examples... Interestingly, many examples are borrowed from Dixit and Nalebuff, another very simple book which our author should be trying to outperform (as opposed to copy!). I mean, why copy Dixit and Nalebuff if they have already sold hundreds of thousands of copies of their book??? (If the author had known a bit more about game theory he would have known critical reviews like this one, or like the other one where the reviewers proves that the positive reviews were posted by the author's wife and friends!!!, would eventually appear.)

Game theory is not about learning what the prisoner's dilemma looks like or what moral hazard is. I mean, these things do appear, but they're about 1% of introductory game theory. The remaining 99% is totally missing from this book. And it is in that missing 99% that one finds what makes game theory useful and applicable: expected utility theory, utility functions and their maximization, reaction curves, bayesian games, etc. My students (even the most non-mathematically inclined ones) can easily grasp simple games using web-based resources for free. If they buy a book and pay up to 30 bucks for purchase and delivery, they (rightly) expect it to guide them through somehow more demanding territory. And this book just doesn't do that at all.

Also, this book is full of inaccuracies, and these end up being very confusing for students new to the topic. For example, the author says that players are always egoistic (i.e. that they only care about their own interest, and not about anyone else). That's totally wrong. You can very well imagine a player with a utility function which has a term that reflects the well-being of other individuals. Just think of a possible coordination game between the Red Cross and UNESCO... Another example: the pregnant daughter who would be better off if her parents had loved her less. What on Earth is that about?!? You just can't publish this kind of non-sense without some discussion about utility functions, time-discounting, risk posture, etc.

One advice: do not buy this silly and superficial book. Do not buy any book that just illustrates standard off-the-shelf games without telling you how payoffs depend on the values taken by the independent variables, and how it is changing payoffs that make the game look (and be solved) one way or another. If you suffer from serious numerical illiteracy, try Dixit and Skeath -- but not this.

0Comment 8 people found this helpful. Was this review helpful to you?YesNo

James Miller needs a reality check

ByGreg T.on August 28, 2003

Format: Hardcover

First off, let me say that there is very little useful information contained in this book. The only thing I can conclude is that other 2 reviews before mine were done by friends of the author of this book, James Miller.
James begins the book with a direct insult to the reader, stating things such as quote "...Beware, however, if you end up enjoying this book, it's not because I wrote it for the purpose of making you happy. I wrote it to maximize my own payoff. I don't care, in any way, about your welfare." He also goes on to arrogantly and blatently say basically that the reader is stupid and that he has much better things to do than to be writing this book.
I totally agree...he should not have written this book. It does very little to aid in the understanding of Game Theory and its practical application in real world scenarios. Most of the information contained within the book is either common sense or flat out WRONG, both factually and practically. What is not either wrong or common sense can easily fall into the "worthless trivia" section.
Let me give you one of Mr. Miller's examples located on page 8 and 9:
Let's say that you are a parent and you are worried about your daughter becoming pregnant. If you threaten your daughter with being kicked out of the house if she becomes pregnant, his basic rationale says that if you love her and she knows it, your threats will be ineffective and she will therefore have no incentive to not become pregnant. However, James points out that the solution to the problem is to demonstrante to your daughter that you in fact do NOT love her which would in turn say to her that you would most definitely make good on your threat of kicking her out of the house in the event she became pregnant.
Application of Game Theory? Yes, kindof...but "real world" useful application of Game Theory, no way. You and I both know that in reality, things simply don't work that way between real, living, breathing people. People have feelings and emotions and many of the examples in this book do not take into account what would REALLY happen in the real world.
If that is how you view the world, then I can summarize Miller's entire book and examples by saying "The best way to use Game Theory in real world situations is to just think of the best way you can screw other people and be an arrogant SOB"...and if that is true, then I guess Miller is the world's greatest Game Theorist.

44 comments 120 people found this helpful. Was this review helpful to you?YesNo

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Most Recent Customer Reviews

Interesting Review

The book has been misunderstood and so was the author. This book is about strategy and should not be confused with ethics.Read more

Published on June 11, 2007 by Ahmed Sani

Easy to understand intro to game theory in the real world

Forget the reviewers who panned it, they do not seem to even begin to understand the premises of game theory.

Published on May 29, 2007 by Donald Byron Johnson

A Complete Load of C$%P

Do not buy this book if you want to learn anything meaningful or "real world" about game theory. The author's examples are irrelevant and in some cases not applicable to game...Read more

Published on February 23, 2006 by Joe Bruce

Useful but there's a question of ethics

While I'm for any book which may prove useful in life and grant that Mr. Miller's might be one of those, I see by other reviews and by my own investigation that Mr.Read more

Published on August 17, 2005 by Jacques Laroque

As simple as it gets...

Great book! Simple defininitons, lots of explanations and lots of examples & case studies....For those who have no idea about Game Theory, the writer created a planet for you, a...Read more

Published on July 24, 2005 by Gurkan Ozer

Easy Introduction to Game Theory

The author purposely leaves out any complicated mathematical equations and convoluted logical reasoning.Read more

Published on September 10, 2004 by Jaewoo Kim

Alternative to novels; nothing practical or useful

This is a vain attempt to take a technical topic and present it in easy language. The author runs out of things to convey after the first 3 chapters

Published on June 7, 2004 by Mark T

Smart. Relevant. Entertaining.

Market situations are everywhere: when you look for a job, when you buy insurance, when you shop, when you date, when you negotiate.Read more

Published on March 7, 2004

Dissapointing book

I have many concerns about this book. The author assumes that people are lazy, greedy and often try to cheat. He makes dangerous generalizations based on personal experience.Read more

Published on February 22, 2004

Better Options Available

There are many useful game theory books on the market now, many of which are aimed at the lay reader. Nalebuff and Dixit is still the best non-technical introduction.Read more

Published on January 3, 2004

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Game Theory at Work: How to Use Game Theory to Outthink and Outmaneuver Your Competition Hardcover – April 3, 2003

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