Dominant and Dominated Strategies: What They Are and Why They’re Important

  Strategic dominance is a state in game theory which occurs when one strategy that a player can use leads to better outcomes for them than all the other possible strategies that they can use, regardless of which strategies their opponents use. Accordingly, a strategy is a dominant strategy if choosing it leads a player to … Read moreDominant and Dominated Strategies: What They Are and Why They’re Important

Brinkmanship: Walking On the Edge as a Strategic Decision

  Brinkmanship is the act of pushing volatile engagements to the brink of active conflict, with the goal of achieving a positive outcome for yourself. This strategy is used in widely applied in various areas, from high-stakes litigation, to international politics, and to interpersonal confrontations. In the following article, you will learn more about brinkmanship, … Read moreBrinkmanship: Walking On the Edge as a Strategic Decision

Look Forward, Reason Backward: A Primary Principle of Strategic Thinking

One of the basic principles in game theory is that you should look forward and reason back. Essentially, this means that before making a move, you should consider all the possible moves that you and the other players can make, together with the possible outcomes that these moves lead to. Then, consider how desirable each outcome … Read moreLook Forward, Reason Backward: A Primary Principle of Strategic Thinking

‘Follow the Follower’: a Lesson in Strategy from Sailboat Racing

  “Sailboat racing offers the chance to observe an interesting reversal of a ‘follow the leader’ strategy… The leader imitates the follower even when the follower is clearly pursuing a poor strategy. Why? Because in sailboat racing (unlike ballroom dancing) close doesn’t count; only winning matters. If you have the lead, the surest way to … Read more‘Follow the Follower’: a Lesson in Strategy from Sailboat Racing