So I would consider players that employ game theory to be categorized as using Market inefficiencies in their economic model called a poker table. Working on a consulting project this week, I stumbled on a paper by Hersh Shefrin , who has written extensively on the subject of Behavioral Finance. He sumarizes that there are three aspects (in general) to the topic. I started wondering about its implications in a poker environment. MORE

Poker, for math geeks, is more of a science than a game, a gamble or an art form. I could elaborate in this example as to the human aspect of the pipeline, but this really starts to tie in another aspect of poker and math into the equation, game theory. Ok, fair warning. If you are here for a two paragraph good marketing tip, you're in the wrong place. I'm deviating from my normal article style and getting down to some math. Geek Time! MORE

There are all kinds of mathematical models-statistical models, differential equations, and game theory. We know–models can be intimidating. But as the need to add analytics and science to our work continues to increase, models have become one of the primary vehicles every marketer needs to know how to develop and leverage. If you’ve already dived into the deep end on models, congratulations. MORE

Our models need to acknowledge this – and marketing needs to push back sometimes against the constant demands for more “accountability” Can you speak to the “game theory” as it relates to the notion of customer loyalty? . One of the greatest social scientists of the age, Jon Elster, remarked that it is impossible to understand most human behaviour without understanding game theory. The same applies to network theory, path dependency, etc. MORE

Sales is a game played in the mind. Every day, and every deal, the game starts in your head and plays out in person. Game Theory and Process. The key to being a successful salesperson is winning the war with yourself. If you’re consistently mentally prepared and motivated, it’s almost certain you’ll be successful in the long term, regardless of the ebbs and flows. The mental side of sales is showcased in a two distinct ways. MORE

Poker, for math geeks, is more of a science than a game, a gamble, or an art form. I could elaborate in this example as to the human aspect of the pipeline, but this really starts to tie in another aspect of poker and math into the equation, game theory. Ok, fair warning. If you are here for a two paragraph good marketing tip, you're in the wrong place. I'm deviating from my normal article style and getting down to some math. Geek Time! MORE

Jerrod Ankenman's because he always has an opinion and can put game theory into words better than most. A family member asked me last week, "Who do you write the blog for?" My answer was, "for anyone who wants to read it." That got me thinking. I wonder if the people I read know who reads their blogs? Not that they will see this post and see that I read their stuff, but maybe I can turn a couple of my readers onto some good stuff elsewhere. MORE

Poulton compares the concept of DDA to Lloyd Shapely’s cooperative game theory, which attempts to assign “credit” for different players on a team for contributing to a game outcome. Specifically, Shapely’s theory attempted to determine attribution should a specific player be removed from the team – and how much of the burden would respectively be shouldered by the remaining players. MORE

Back in the early 90's, I had started playing a regular $1-2 home game in Richmond, and began taking more of an interest in the game, and started reading up on it to improve my game. I had spent a great deal of time working with software agents, artificial intelligence, fuzzy logic, nueral nets, game theory, you name it. It took time to improve my game, but I was always applying the technical knowledge I have to the poker theory I picked up. MORE

A book written by an economist, that attempts to use economic theories to explain pretty much everything in life, probably sounds more like a cure for insomnia—perhaps even masochism—than a page-turner. This leads to a discussion of "tournament theory"—paying employers based on their performance relative to each other, as in a tennis tournament. MORE

We also evaluated the Shapley model from cooperative game theory. 30-second summary: All attribution models have their pros and cons, but one drawback the traditional models have in common is that they are rules-based. MORE

To avoid raising the hackles of gatekeepers, let alone decision makers, and undermining the morale of your sales force, you need to learn a little game theory. Game theory is no game – it is advanced mathematics designed to predict behavior, developed for the U.S, If you saw the movie A Beautiful Mind, you got an intro to game theory phenom John Nash. Most people hate making cold calls. MORE

That said, bidding on competitor terms is absolutely fair game, and there are ways to make big non-brand head terms more affordable than you think. . Attribution options (last click, first click, Time Delay, game theory and so on) can be overwhelming. There are many myths surrounding digital marketing solutions. It’s rare to find a CMO in the digital trenches with a full understanding of what works and what doesn’t. . MORE

Game Theory is essentially a discipline or a method of strategic thinking where the players will have to make decisions by looking from different perspectives, basically putting themselves in the shoes of the other players and anticipating their possible actions and reactions. When used in the context of business, Game Theory is most often used by business managers to figure out what their collaborators and competitors are thinking or planning. MORE

by Maria Pergolino If you are a B2B marketer, you’ve probably heard the terms “game theory” or “gamification” in regards to advertising a few times. But what does gamification mean and what does game theory have anything to do with marketing? Game theory is a method for analyzing calculated circumstances, such as in games, where a person’s success is based upon choices. This feeling is what reinforces motivation to keep them interested in the game. MORE