Time to get your game on.
“Game theory can be described as the mathematical study of decision-making, of conflict and strategy in social situations.
“It helps explain how we interact in key decision-making processes.
“Imagine you’re buying a car from a dealership.
“The dealer wants to sell the car, and has a fixed price beyond which he cannot drop without making a loss. You want to buy the car, but get the best price.
“The car dealer bases his negotiating tactics on the fact that you want the car, that he could sell the car to another customer, that he’ll win praise for selling the car, and the break-even point beyond which he cannot negotiate down.”
Read more at BBC.com
