In game theory, there are several unexpected strategies that can be employed. One such strategy is the 'minimax' strategy, where a player minimizes the maximum possible loss. Another is the 'tit-for-tat' strategy, where a player responds in kind to an opponent's actions. There's also the 'zero-sum' strategy, where one player's gain is another's loss. Additionally, 'mixed strategy' involves randomizing moves to keep opponents guessing. Lastly, 'cooperative game theory' involves forming alliances and coalitions. These strategies, while unexpected, can be highly effective in different game scenarios.
This question was asked on the following book summary:
Have you ever had to dissect a complicated business scenario and were confused as to where to begin, or how to analyze the problem? Game theory is the...
Go to dashboard to download stunning resources
DownloadText this question was asked on:
One of the strongest points in the book is known as the "Anticipation of Situation." The working theory is that there is always a mathematical formula that will predict the outcome of a game. The authors use an example from the television show, Survivor. Someone on the show decided they would "win by losing," and it actually worked. When the candidate on the show threw their chance to win, it set a series of events in motion that eliminated some of the competition, and allowed that candidate to eventually win the game in the end. According to the authors, by studying the competition and their reaction to any situation that is presented, it is possible to, at the very least, even the score, and at the very best, to come out on top as the winner in any contest.