The game theory refers to the theoretical framework for conceiving social situations among competing players. The science of strategy at least the optimal decision making of independent and competing actors in a strategic setting. The key founders of game theory were mathematician John von Neumann and economist Oskar Morgenstern in the 1940s.
The Main Focus of Game Theory
The game theory’s main focus is the game, which serves as a model of an interactive situation among rational players. Game theory has a wide range of applications, including psychology, evolutionary biology, war, politics, economics, =and business. Despite many advancements, the field of game theory is still considered to be a young and developing science.
Examples of Game Theory
Several examples of games analyze the game theory, including The Prisoner’s Dilemma, Dictator game, Volunteer’s Dilemma, and Centipede Game. An interesting fact about game theory is that all participants’ actions and choices affect the outcome of each.
Top Books Related to Game Theory
The key to game theory is that paying off one player is contingent on the other player’s strategy. Game theory is extensively used in different areas of study. To give you a clear idea, we are going to discuss the best books on game theory.
1. Modern Poker Theory: Building an Unbeatable Strategy Based on GTO Principles -Review
Modern Poker theory is a comprehensive and rigorous guide to the most important aspects of no-limit Hold ‘gem and is written by Michael Acevedo. The book answers many questions, such as:
-What is meant by game theory, and how it can be applied at a table?
Understanding GTO is essential as it helps make accurate poker decisions and enables players to exploit players who don’t.
Features of Modern Poker Theory:
–Uses modern tools to develop a systematic approach for analysis of GTO.
-Organizes ideas and tools in an intuitive manner that is largely focused on practical applications.
-Highlights the latest poker theory for the 21st century
-Culmination of thousands of hours of research work
-Advanced poker software tools available
Modern poker theory consists of 480 pages, and you can also easily get it from amazon.
2. The Art of Strategy: A Game Theorist’s Guide to Success in Business and Life -Review
Avinash K.Dixit and Barry J. Nalebuff write this book on game theory. The Art of strategy comprises 512 pages and also ranks at number 2 in Game theory books. Game theory means strategic thinking and the Art of anticipating your opponent’s next move and being aware that your rival is trying to do the same thing with you.
The Art of strategy helps you in mastering game theory, and it will make you successful in business and life. As many parts of the game theory involve simple common sense, and it can be mastered by developing a new way of seeing the world. From pop culture, movies, sports, politics, and history, authors have shown that every business and personal interaction contains a game-theory component using a diverse array of rich case studies.
3. Gladiators, Pirates and Games of Trust: How Game Theory, Strategy, and Probability rules our lives – Review
Another amazing book on game theory and is available for $11.99. In Gladiators, Pirates, and Games of Trust, Haim Shapira describes why game theory is important and helpful in our lives. Book also provides many humorous anecdotes and insightful examples of game theory.
Features of Gladiators, Pirates, and Games of Trust:
-Learn to trust and issue ultimatums
-Learn the basics related to the Art of negotiation
-Construct an airport and divide the inheritance
-Visit the ring of gladiators and apply for a coaching position
4. Game Theory 101: The Complete Textbook – Review
Game Theory 101 is a complete book based on games centred introduction to the strategic form and extensive form games.
Features of Game theory 101:
-Introduces games of increasing complexity
-Quick, efficient, and to the point concepts
-Teaches game theoretical tools necessary to solve them
-Perfect for introductory game theory, intermediate microeconomics, and political science
Game theory 101 is written by William Spaniel and consists of 276 pages. You can easily get this book from amazon at just $13.99.
5. Theory of Games and Economic Behavior: 60th Anniversary Commemorative Edition – Review
The theory of games and economic behaviour is a modern book based on game theory. This classic work is written by Oskar Von Morgenstern and John Von Neumann. Both of them conceived a mathematical theory of economic and social organization.
The book is based on the theory of games of strategy, and not only this would revolutionize economics but an entirely new field of scientific inquiry. It is widely used to analyze a host of real-world phenomena from arms races to presidential candidates’ optimal policy and from vaccination policy to major league baseball salary negotiations. Moreover, it is today established throughout both social sciences and a variety of other sciences.
The theory of games and economic behaviour consists of 660 pages, and you can get this book for $29.94.
6. Game Theory: An Introduction – Review
The game theory introduces readers to game theory’s main ideas and applications in a style that combines rigour with accessibility. Steven Tadelis, the author of this book, highlights a concise description of rational decision-making and discusses strategic and extensive form games with complete information.
Game theory is an excellent choice for advanced undergraduate and beginning graduate students. The concepts and methods in game theory are explained through real-life examples backed by explicit analytic material.
Features of Game Theory:
–Thorough solutions available for teachers and only selected for students
-Covers static and dynamic games with complete information
-Introduces the main ideas and applications of game theory
-Topics include bargaining, actions, signalling, reputation, repeated games, and information transmission
–Discusses a variety of examples, applications, and exercises
-Also highlights information transmission games, mechanism design, and rent-seeking games
The game theory consists of 416 pages, and you can get this book at the cost of $48.00 from amazon.
Conclusion
Therefore, if you are looking for any book related to game theory, this comprehensive guide will help you. Listed above are the best books related to game theory, and you can choose any one of your choices.
