First of all I would like to express my apology for staying away from IIdeaz for so long. As I have mentioned in my previous article X demerged and lot of things changed after that. It all feels like an epoch ago. But my journey through business landscape continues, and I will always be the curious ‘Alice’ in the wonderland of business.
I, from this article onwards, will blog about ideaz that are of general business interest to me. Ofcourse; I will complete my narration about my voyage with X in future articles.
Let’s start with Game Theory. What is Game Theory? Game Theory is a study of strategic interactive decision making among rational individuals. Sounds gibberish? Let’s understand ‘Why Game Theory?’ may be that could help. Why Game Theory, because it is one of many good ideas that have found ready application in many fields such as economics, computer science, biology, etc. But also because it gives you the secret of success!!! Well I might be exaggerating a little here but it probably gives you some fundamental elements that helps build success, no matter what your definition of success is!
Many of us ask the question ‘what does it take to succeed?’ and grapple around in the dark hoping to find an answer. When I say that success is a byproduct of one’s decisions I am not very far from the truth [so I hope]. But decisions are a consequence of choices that are available to us for any given situation. This statement is true, but only half true! For any give situation, decisions made are a consequence of choices available to oneself and also to others. This seemingly inconsistent and counter intuitive idea plays itself off at all times even without conscience recognition of it. Game Theory is a collection of many such absurd ideas but strongly backed by mathematical explanations and logic. As I attempt to understand this marvel of human discovery which has elevated eight game theorists to the honor of Noble Prize, I will think out loud and share my understanding in this blog.
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