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Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life (平装)
by Avinash K. Dixit and Barry J. Nalebuff
| Category:
Strategy, Game theory, Competition |
| Market price: ¥ 208.00
MSL price:
¥ 178.00
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| Stock:
Pre-order item, lead time 3-7 weeks upon payment [ COD term does not apply to pre-order items ] |
MSL rating:
 Good for Gifts |
| MSL Pointer Review:
An excellent reference on Game Theory and competitive strategies with many case studies but little math. |
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AllReviews |
1 Total 1 pages 10 items |
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Washington Post (MSL quote), USA
<2007-01-10 00:00>
A fascinating new book that can be read with real pleasure… The problem is, of course, that if Dixit and Nalebuff can improve your strategic IQ, they can improve your competitor's as well. |
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Publishers Weekly (MSL quote), USA
<2007-01-10 00:00>
Most books on game theory either focus on specialized applications (cardplaying, business, nuclear war) or bore with mathematics and jargon. Free of formulas and argot, this refreshing exception distills the principles, concepts, tools and techniques - brinkmanship, bargaining, unconditional moves, vicious circles, etc. - with an astonishing diversity of illustrative examples drawn from political campaigns, baseball, neighborhood dynamics of segregation, the military draft, speed limits, childrearing and so forth. In helping strategists anticipate rivals' responses and win the game, economics professors Dixit and Nalebuff (who teach game theory at Princeton and Yale, respectively) provide managers, negotiators, athletes, parents and other game-players with a formidable weapon. |
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Palazzo (MSL quote), Brazil
<2007-01-10 00:00>
Great reading if you want to better understand the principles of the game theory. Authors offer the exact mix of theory and practice. Examples are a bit old fashioned though. A reviewed edition would be welcome. Foreign readers may also find it difficult to understand examples related to American football and baseball, as well as those of the American senate day by day. But don't mind them. Concepts are still up to date and it's a pleasureful reading. |
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An American reader (MSL quote), USA
<2007-01-10 00:00>
Interesting game theory book without the math. Too much stuff about labor strikes. A bit too theoretical to be applied directly, but definitely some interesting things to think about. One interesting theoretical proposition, in a 2 person race the leader should mimick all of the moves of the follower, that way the follower will never gain any ground. Best part of book is cited to some journal.
"In 1890 there were three ways to power automobiles - steam, gasoline, and electricity - and one of these was patently inferior to the other two: gasoline... A turning point for gasoline was a 1895 horseless carriage competition sponsored by the Chicago TimesHerald. This was won by a gasoline-powered Duryea - one of only two cars to finish out of six starters - and has been cited as the possible inspiration for R.E. Olds <Oldsmobile> to patent in 1896 a gasoline powered source, which he subsequently mass produced. Gasoline thus overcame it's slow start. Steam continued viable as a power source until 1914, when there was an outbreak of hoof-and- mouth disease in North America. This led to the withdrawl of horse troughs - which is where steam cars could fill with water. It took the Stanley brothers about three years to develop a condenser and boiler system that did not need to be filled every thirty of fourty miles. But by then it was too late. The steam engine hasn't recovered. "
"While there is little doubt that today's gasoline technology is better than steam, that's not the right comparison. How good would steam have been if it had the benefit of seventy-five years of research and development? " |
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A Mexican reader, Mexico
<2007-01-10 00:00>
A great way to understand game theory, the authors clearly explain the principles and rules that dictate strategic decisions. The book is very didactic as it has a lot of case studies that allow you to smoothly shift from theory to execution. |
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Bernd Kotz (MSL quote), Germany
<2007-01-10 00:00>
This book is on strategic thinking. This is what you normally understand as game theory today. Game theory have become a mayor scientific discipline. After two Nobel prices it is a normal standard in economics. Dixit and Nalebuff describe the basics in game theory on a low level. They do not need to use mathematical equations to explain the context. The examples in this book are taken from politics, business and sports. There common model is the prison dilemma case. From this starting point they explain the various forms of co-operative behaviour to solve the games in life. The final result is to find a co-operative outcome with strategic moves. There are a lot of case studies in this book. It makes it easier to follow there ideas.
They show how deterrence was a good instrument in the cold war. They explain how a thread in business is taken on and when the thread is credible it is a good strategy to deter a potential competitor.
This book is not for the economic student only. It is a book for everyone who is interested in strategic thinking. For the manager it is a good book for bargaining situations.
I read the book with pleasure because it makes business very simple and it is a joy to read.
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Alexei Proussakov (MSL quote), Russia
<2007-01-10 00:00>
Contents: Professors Avinash Dixit and Barry Nalebuff begin the book with explanation of sequential-move games governed by the principle `look ahead and reason back'. Then simultaneous-move games are introduced by means of prisoners' dilemma, the situation when by playing their dominant strategies (thus theoretically maximizing their payoff) both sides get the outcome that is jointly worse than if they followed the strategies of minimizing their payoff. The paradox lies in interdependency of sides' outcomes. To resolve the problem the competitors have to cooperate i.e. follow their less desired strategies. Temptation to brake rules unilaterally is very strong, to make it worse you cannot control your opponent's move in the game. The rule `look ahead and reason back' does not work either. But one can manage this.
To tackle the problem strategists transform simultaneous-move games into sequential-move games. That is where the notion of strategic move comes into play. Strategic move is an action designed to alter beliefs and actions of others in a direction favorable to yourself. Strategic move will purposely limit your freedom but in return it will limit your opponent's freedom. Threats and promises are examples of strategic moves that are widely used. Another example of strategic move explained in the book, brinkmanship, consists in creating and maintaining risk of mutually bad outcome. Unlike the compelling threat, brinkmanship does not secure bad outcome, it does not even tell when it may occur. It is left to your opponent to guess at any point in the game if you are on the brink of disaster. By defying yourself an opportunity to influence the situation and making your opponent understand that he is the only capable to resolve the conflict you induce him to compromise.
Then it comes to multi-person games where interdependence is so complex that the outcome seems absolutely unpredictable. Voting is an example of an imperfect system that cannot aggregate up individuals' preferences into a will of the people. The authors show how result of voting depends on the scheme of voting that gives way for manipulation.
When discussing bargaining the authors explore how different schemes of bargaining change sides' power and affect the result. Time is money for both sides but it is likely that they discount future at different rates thus one side gets competitive edge. Simultaneous bargaining can open up possibility for mutually beneficial trade-off, especially when sides value items differently.
Overall: The book is well structured and written in an easy-to-understand language, though in some cases it shows contradictions and some explanations seem oversimplified. It is rich in examples and offers cases from different spheres of life. This book instills mathematical approach to problems without going deep into mathematics. So the book will not put off `mathematically disadvantaged' readers. Even in case this book is the only you read on strategy, you will acquire knowledge that is indispensable nowadays. The book changed my perception of conflicts, games and bargaining.
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An Australian reader (MSL quote), Australia
<2007-01-10 00:00>
Thinking Strategically appears to be the book that attempts to break game theory down so that it can easily be grasped by the average reader. Not being an expert in game theory, I'd say it largely succeeds in this respect and is a very enjoyable read into the bargain. Basically game theory is the science or mathematics of competitive encounters. What is your best move to win when knowing that you are being competed against by others who also wish to win against you?
It's an interesting concept and one that we face every day in even simple transactions, such as getting a parking space or choosing the fastest- moving queue in the store.
This book, of course, doesn't have all the answers, but it does lay out in relatively simple terms processes that you can try to apply to situations.
Like other reviewers, I would not attempt to use game theory to resolve complex or high-value situations, but I think this book does add to the mental tools you can use for tackling challenges.
The human condition is often one where decisions are based on emotional reasoning. By applying this kind of thinking, it may help to see "the bigger picture" and make our decision-making more strategic. |
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Franko Arda (MSL quote), UK
<2007-01-10 00:00>
The authors explain what Game Theory is and HOW it can be applied to REAL life challenges. Quantitative stuff is left out. Loads of examples make you "thinking and understanding" Game Theory, but you have to re-read and re-read it... Nalebuff had "Getting to Yes" (as interviewed) in mind: simplicity, readbility, and knowledge that is of practical relevance. They totally succeeded! One of my MBA mates remarked "That's the thinking they try to teach you at business schools". |
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Jaewoo Kim (MSL quote), USA
<2007-01-10 00:00>
Winning takes good strategy. This book will help you to formulate a strategy like one would strategize in a chess game. The book will enable you to think differently about life's challenges and how to overcome them. It is a shame so many good books on strategy and winning are business books because the theories outlined in this book can be used in every aspect of one's life. If you believe logical processes and planning leads to a good winning strategy, then definitely buy this book. It will enable you to reach new heights in formulating a proper winning strategy. |
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1 Total 1 pages 10 items |
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