Game Theory
by James D. Miller
Buy book: $15.71

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.

From today's book:
"In game theory land people always act in their own self-interest, and consequently everyone lies whenever lying serves their interests."
"McGraw-Hill is a long-term player in the publishing game, they would be harmed by fooling book buyers into purchasing nicely wrapped crap."

Andi responds:
Apparently the author is lying already. Maybe I'm missing the point or being too quick to judge but it seems to me that McGraw-Hill indeed did just publish a book full of crap.

Perhaps it is true that game theory has become entrenched in today's business world but that does not make unethical behaviour an acceptable practice. As evidenced by the $1.6 billion in fines collected by the SEC last year, serving your self-interest as opposed to that of your stakeholders (which is what business is really all about), makes "Game Theory" an expensive proposition.

Readers, please leave the tricks and the fate thereof to Kenneth Lay and just do the right thing - conduct yourselves honestly. It's easier to remember, you don't need a book to teach you how, and it's FREE!

The author neglects to point out that his view of Game Theory is limited to the non-cooperative players realm. There are games with cooperative players in which the goal is the success of the community rather than just one team or one player. He fails, perhaps by design, to point out that more than mathematic his views are extreme utilitarian (the end justifies the means and the end is to benefit me, me and only me). While it is the view of many business executives in the western world, it is not the way it is and it has never been universal. The content is valuable as a peek into the psyche of eurocentrist egotists, and perhaps people one may have to deal with. In that sense, it is somewhat valuable.

With the express understanding that game theory is one school of thought among many,this is an interesting read.

Creating value for stake holders continually is one long term strategy that will work. However game theory applies in many contexts.Whether you want to follow it or not, this book gives you a lot of perspectives and is one I want to read fully.