Chapter2
Playing the Percentages
In This Chapter
- Calculating expected values
- The best of the worst
- Using decision theory to maximize payoffs
- Determining the reliability of information
In game theory, as in life, many events that directly impact us are completely out of our control. Many such events randomly occur and are not brought about by a willful opponent. Game theorists call these events states of nature and have developed strategies for taking them into account. Learning how to strategize in the face of these random events enables you to plot against a thinking adversary. When dealing with these situations, the first step you need to ...
Get The Complete Idiot's Guide to Game Theory now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
